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According to Colliers report, outlines the transformative trends shaping commercial property in Asia Pacific. India’s flex space stock has doubled since 2019, crossing 50msf in Q2 2024 and India’s green certified stock surged 68% since 2019, currently at ~ 490 msf.
The share of flex space in occupiers’ portfolios has increased from 5-8% in 2019 to approximately 10-15% in 2024. As a result, flex space stock has doubled post pandemic, breaching 50 msf mark and accounts for almost 7% of the total Grade A stock as on Q2 2024.
“In India, over the past few years, high-performing green assets have gained significant prominence amongst real estate stakeholders. As of Q2 2024, green-certified office stock is ~ 490 million sq ft, about 67% of India's overall Grade A office stock. Notably, the green-certified stock has surged 68% compared to 2019 levels. As the demand for sustainable workspaces continue to increase, sustainable practices such as securing green building certifications, conducting environmental assessments, and adopting innovative technologies & materials are likely to remain crucial for developers and investors.” said Vimal Nadar, Senior Director and Head of Research, Colliers India.
