Bengaluru Tops Indian Cities in Green Office Space

A recent report by CII-CBRE on real estate revealed that Bengaluru leads Indian cities in green office space, boasting 104.5 million square feet of environmentally sustainable offices, making up 30% of the country’s total. The National Capital Region (NCR) comes second with 70.2 million square feet (21% share), followed by Mumbai with 56.6 million square feet (17% share). Hyderabad, Chennai, and Pune also feature on the list. The report highlighted that the area covered by green-certified office buildings in these cities increased by over 36% compared to 2019 levels, reaching 342 million square feet by June 2023.

Office leasing between January and June 2023 totaled 26.4 million square feet, with Bengaluru, Chennai, and the NCR accounting for 60% of the total. Additionally, the industrial and logistics sector grew by 35% to 19.1 million square feet, and retail leasing increased by 24% to 2.9 million square feet during this period. The report forecasts an annual office stock supply of 51-53 million square feet for 2023, with significant investment activity expected in the second half of the year.