Office Spaces demand has reported to robust boost in the previous quarter in major metro cites which will support the demand of pre-laminated Particle Boards market. Most of the IT sectors, Corporate offices, etc has converted mandatory office presence of their employee and they have reported to cancel all work from home model, hence there is huge requirement of office space in Bengaluru, Hyderabad, Pune and Chennai. The Hardware, Particle Boards,HPL Sheets, MDF sector has witnessed the good demand from office spaces segment as per report.
Leading office space developer Mindspace REIT CEO Ramesh Nair said "India's office market is witnessing record leasing momentum, led by strong demand from GCCs, BFSI, technology firms, and the rapidly growing data center sector".
Nair further noted that, "we are seeing a clear shift in occupier preferences towards Grade A office spaces that offer more than just infrastructure -- tenant are increasingly valuing premium experiences, including integrated retail, F&B, hospitality, and wellness amenities."
As businesses scale and adopt new workstyles, Nair said the need for well-connected amenity-rich ecosystems continues to grow, further cementing India's position amenity-rich ecosystems continues to grow, as a global hub for enterprise, technology, and innovation.
According to Knight Frank, a real estate consultant, India's top eight office markets witnessed a 74 per cent rise in gross leasing of office spaces in the latest March quarter to a record 282 lakh square feet mainly driven by a strong demand for foreign firms setting global capability centres (GCCs). With the demand for GCCs consistently breaching new highs, global perception of India as a long-term investment destination continues to strengthen."