1 month, 3 weeks ago

Chennai’s office space usage to cross 100mn sqft by 2026: Report

CHENNAI: Chennai’s real estate sector is booming, with the city’s office space expected to surpass 100 million square feet by 2026, up from the current 89 million sqft, according to a new report. The report, ‘Tamil Nadu: The State of Unlimited Possibilities’, jointly released by CBRE South Asia and Confederation of Indian Industry Tamil Nadu, highlights how industry-focussed policies are attracting investments and creating jobs, making the state a major business hub. Over the past two years, private equity investments in Chennai’s office market reached $1.19 billion. Once dominated by technology firms, Chennai’s office space is now seeing a growing presence of companies from the Banking, Financial Services, and Insurance sector and the life sciences industry.

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