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India drove 16% YoY surge in APAC office demand in 2024; market expansion to continue in 2025: Colliers

  • India, Mainland China and Japan drove over 90% of the office space demand in 2024
  • During H2 2024, leasing in Australia grew manifold, while India and Japan saw notable YoY growths of 11% and 5%, respectively
  • India witnessed 3.44 million sqm (37.0 million sq ft) of leasing during H2 2024, 11% YoY rise
  • India accounted for over 60% of the new supply in 11 top markets of the APAC region during H2 2024

BENGALURU, India, March 7, 2025 /PRNewswire/ — Demand for office space across Asia Pacific’s (APAC) top 11 markets surged 15.9% annually to 8.8 million sqm (94.7 million sq ft), led by India, Mainland China and Japan. H2 2024 was particularly strong, with office demand in the region reaching 4.7 million sqm (50.6 million sq ft), a 6.1% rise compared to H2 2023. Demand growth in H2 2024 was notable in markets such as India, Japan and particularly impressive in Australia, which had a lower base. Leasing activity, however, remained relatively subdued in New Zealand, the Philippines, South Korea, Hong Kong, and Taiwan in H2 2024.

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Colliers’ latest report, Asia Pacific Office Market Insights H2 2024 and Outlook 2025, found the significant increase in APAC office space demand to be driven by corporate expansion, return-to-office and the growth of global capability centres. The report captured the key markets of Australia, Mainland China, Hong Kong, India, Indonesia, Japan, New Zealand, Philippines, Singapore, South Korea and Taiwan. 

Office market activity was particularly strong in India, which saw 6.17 million sqm (66.4 million sq ft) of leasing during 2024, led by a stronger second half. With 3.44 million sqm (37.0 million sq ft) of gross leasing in H2 2024, India continued to lead office leasing activity in the APAC region, witnessing an 11% YoY rise compared to H2 2023, according to new research from leading global diversified professional services company Colliers.

In India, Technology firms and Flex space operators together accounted for 46% of the total take-up across the top 6 cities during H2 2024. New supply remained robust, with over 2.81 million sqm (30.3 million sq ft) of completions in H2 2024, a 7% YoY growth across the top six cities. Bengaluru and Hyderabad led the office market activity during H2 2024, cumulatively driving more than half of India’s Grade A space demand and supply. Amidst an uptick in both leasing activity and new supply, India vacancy levels largely remained stable at around 17%.

“The APAC office market remained upbeat during H2 2024, with demand rising 6.1% YoY to 4.7 million sqm (50.6 million sq ft). Office space demand in the region continued to be driven by India, Mainland China and Japan. At the same time, leasing in Australia grew manifold during H2 2024, albeit on a comparatively lower base. New office supply declined across most markets in H2 2024, resulting in a 16.9% annual drop at the APAC level. Contrary to larger trends, India witnessed 7% YoY growth in new supply, contributing 60% of the new supply in APAC region during H2 2024. Looking ahead, we anticipate improved demand-supply dynamics in 2025, supported by balanced economic growth and likely moderation in inflation,” said Arpit Mehrotra, Managing Director, Office Services, Colliers India.

“With over 70% share in leasing and 60% share in new supply in H2 2024, India remains one of the leading office markets in the APAC region. Strong domestic leasing, coupled with increasing Grade A space uptake by Global Capability Centers (GCCs), continues to fuel office demand in India. During H2 2024, GCCs leased 1.4 million sqm (~15 million sq ft) of office space in India, accounting for over 40% of the overall leasing during the period. Factors such as rental arbitrage, abundant talent, and language proficiency will continue to support the expansion of GCCs and outsourcing hubs in India,” said Vimal Nadar, Senior Director & Head of Research, Colliers India.

Colliers’ research estimates both demand and supply to strengthen across most APAC markets in 2025, with vacancy rates expected to remain rangebound.

Mike Davis, Colliers’ Managing Director of Occupier Services, Asia Pacific, said. “The outlook for the office occupier market remains positive, with strong demand set to drive further market shifts in the year ahead. High-activity markets may witness continued rental growth, particularly in peripheral business districts. The overall outlook for 2025 indicates a sustained momentum for the APAC office leasing market. We expect to see steady growth and continued resilience, driven by stable economic growth, corporate expansions, and the return-to-office trend. The flight-to-quality will dominate, with occupiers seeking modern, flexible and sustainable spaces that foster collaboration and productivity.”

About Colliers

Colliers (NASDAQ: CIGI) (TSX: CIGI) is a leading global diversified professional services company, specializing in commercial real estate services, engineering consultancy and investment management. With operations in 70 countries, our 22,000 enterprising professionals provide exceptional service and expert advice to clients. For nearly 30 years, our experienced leadership — with substantial inside ownership — has consistently delivered approximately 20% compound annual investment returns for shareholders. With annual revenues exceeding $4.5 billion and $99 billion of assets under management, Colliers maximizes the potential of property, infrastructure and real assets to accelerate the success of our clients, investors and people. Learn more at corporate.colliers.com, X @Colliers or LinkedIn.

Media Contact

Sukanya Dasgupta

National Director, Marketing & Communications | India

Sukanya.dasgupta@colliers.com

+91 9811867682

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SPJIMR holds Annual Convocation 2025 with HUL’s Nitin Paranjpe as Chief Guest

802 graduates embark on a journey to lead with integrity, passion, and a growth mindset

MUMBAI, India, May 22, 2025 /PRNewswire/ — Bharatiya Vidya Bhavan’s S.P. Jain Institute of Management and Research, one of India’s leading business schools, hosted its Annual Convocation 2025 at its Mumbai campus on Saturday, 17 May. The event celebrated the achievements of over 800 graduating participants from across the Institute’s full-time and modular postgraduate programmes, including two (2) Fellow Programme in Management (FPM) scholars.

The Convocation was graced by Mr. Nitin Paranjpe, Non-Executive Chairman of Hindustan Unilever, as Chief Guest. Also, present were Mr. Deepak Parekh, Chair of SPJIMR’s Governing Council; Dr. Varun Nagaraj, Dean, SPJIMR; faculty and staff; and family members of the graduating participants.

Delivering the Convocation Address, Mr. Nitin Paranjpe drew upon his decades of global business experience to urge the graduating cohort to lead with purpose, resilience, and a commitment to continuous growth. Speaking of India’s bold aspiration to become a Viksit Bharat by 2047, he highlighted the need for a new kind of leadership—one that is ethical, compassionate, and driven by the common good.

Mr. Paranjpe shared three powerful life lessons drawn from his personal and professional journey: “There’s no such thing as a good job or a bad one — it’s the mindset you bring that shapes your experience. The real joy, and the foundation for excellence, lies in loving what you do. Don’t chase being the best in the world — strive to be the best version of yourself. Continuous self-improvement is your right, your responsibility, and your greatest opportunity. Purpose is that inner force that fuels your energy and passion. When you find what truly drives you, hold on to it — it’s the most precious gift you’ll ever have.”

In his address, Dean Dr. Varun Nagaraj shared a candid reflection on the challenges graduates face in an uncertain world—geopolitical tensions and the dual promise and peril of AI. He urged them to enter this complex landscape with confidence, guided by SPJIMR’s mission of value-based growth and wise innovation.

He reaffirmed SPJIMR’s commitment to nurturing leaders who combine knowledge with empathy and impact with purpose: “Tomorrow you will be a different and better person than today. Embrace a growth mindset—remember, you are a work in progress, not a finished product. The world offers no ready-made answers; solutions come only through hard work and wise innovation.”

Sixteen (16) top achievers across programmes were presented with Scholastic Medals by Chief Guest Mr. Nitin Paranjape, and 50 recipients from the Dean’s Honour List received their commendation certificates from the Dean. 

Diplomas were conferred across the Institute’s full-time and modular programmes, including the Post Graduate Diploma in Management (PGDM), Post Graduate Programme in Management (PGPM), PGDM (Business Management), Post Graduate Executive Management Programme (PGEMP), Post Graduate Programme in Development Management (PGPDM), Post Graduate Programme in General Management (PGPGM), and Post Graduate Programme in Marketing & Business Management (PGPMBM).

The Convocation ceremony concluded with the traditional hat throw, celebrating the graduates’ journey and the beginning of their next chapter as responsible, value-based leaders.

About SPJIMR

Bharatiya Vidya Bhavan’s S.P. Jain Institute of Management and Research (SPJIMR) is a leading postgraduate management institute, recognised by the Financial Times MiM Global Rankings as India’s #1 business school, by Business Today as one of the country’s top five business schools, and by the Positive Impact Rating as one of the top five business schools worldwide for societal impact. Known for its innovative and socially conscious approach to management education, research, and community engagement, SPJIMR aims to influence managerial practice and promote the value-based growth of its students, alumni, organisations and their leaders, and society. SPJIMR holds the international ‘triple crown’ of accreditations from EQUIS, AACSB, and AMBA.

Visit SPJIMR.org for more information.

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12BET Brings the Aviator Craze to Players with Spribe’s Trending Games

MUMBAI, India, May 22, 2025 /PRNewswire/ — 12BET, a trusted name in global iGaming since 2007, is excited to announce the addition of Spribe’s hit Crash games to its growing lineup. This new partnership introduces one of today’s fastest-growing and most engaging game formats to 12BET players, blending simple mechanics with high-stakes decision-making for a pulse-pounding experience.

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Crash Games: A New Player Favorite Now on 12BET

Spribe is widely known for pushing boundaries in casual, skill-based gaming. Its flagship title, Aviator, has quickly become one of the most buzzed-about Crash games worldwide. The format gives players full control as they decide when to cash out while multipliers climb—creating a unique mix of strategy, timing, and excitement.

By launching Spribe’s game suite, 12BET continues to expand its offerings to match the evolving interests of modern players. To mark the launch, the platform is rolling out an exclusive Daily Mission Challenge where everyone can win Rupees 488 everyday. However, one needs to have an account and be registered user to avail this exclusive offer.

Licensing Matters: Keeping the Fun Safe and Secure

With Crash-style games surging in popularity, a number of unofficial sites have begun to appear, offering deals that seem too good to be true. Even manipulating the outcomes of the crash games. 12BET encourages players to stay cautious and choose licensed platforms for the best experience.

As a fully regulated operator, 12BET works only with certified providers like Spribe. All games on the platform are thoroughly tested and certified by the regulatory body before they are integrated. Choosing a licensed platform means players can enjoy the action with peace of mind, knowing their data and winnings are protected.

A Trusted Platform for Next-Gen Gaming

Backed by nearly two decades of industry experience, 12BET remains focused on delivering innovative, secure, and player-first entertainment. The addition of Spribe’s Crash games is just the latest move in the brand’s mission to bring cutting-edge content to players worldwide in a safe and reliable environment.

About 12BET:

12BET, founded in 2007, is a pioneering igaming company with over a decade of experience delivering multilingual services across Europe and Asia. Recognized globally and ranked 17th by eGaming Review Magazine’s Annual Power 50, 12BET has become a major force in Asia’s igaming market. Built on the core values of sincerity, fairness, and kindness, 12BET provides a secure, reliable, and exceptional entertainment experience for users around the world.

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Marketing Manager

pr@12bet.com 

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Herbalife India Releases Second Episode of Podcast Series – Live Your Best Life, Unscripted

‘Nutrition Simplified: Protein, Supplements, and Smarter Choices’ with Dr. Parag Singhal and Dr. Ratnesh Lal

BENGALURU, India, May 22, 2025 /PRNewswire/ — Following the impactful debut episode, Herbalife India, a premier health and wellness company, community, and platform, has released the second episode of its engaging podcast series — Live Your Best Life, Unscripted.

Titled ‘Nutrition Simplified: Protein, Supplements, and Smarter Choices,’ this episode brings together two distinguished voices from the health and wellness space:

  • Dr. Parag Singhal, a UK-based consultant physician and endocrinologist specializing in diabetes, obesity, and hormone-related disorders, and
  • Dr. Ratnesh Lal, a medical expert with Herbalife India and a leading advocate for science-backed supplementation.

In a conversation led by Mr. Ajay Khanna, Managing Director of Herbalife India, the episode explores foundational topics such as macronutrients, micronutrients, protein intake, and the science behind supplements. It aims to demystify nutrition, offer practical guidance, and help individuals make smarter, more personalized dietary choices.

Commenting on the episode, Mr. Ajay Khanna, Managing Director of Herbalife India said, “Live Your Best Life, Unscripted is our way of cutting through the noise and bringing clarity to the wellness conversation. This episode helps listeners decode their nutritional needs and highlights how simple, informed changes can drive lasting impact.”

From understanding protein requirements by age and lifestyle, to identifying safe and effective supplementation strategies, the episode offers tangible insights and a strong call for moderation, balance, and awareness.

Watch & Listen Now:

YouTube: https://shorturl.at/PlRF8

Apple Podcasts: https://shorturl.at/Ni76S

Spotify: https://shorturl.at/7xeeP

Amazon Music: https://shorturl.at/P5ulX

The journey continues — ‘Live Your Best Life, Unscripted‘ will keep spotlighting voices that inspire smarter choices, healthier living, and empowered communities.

Herbalife (NYSE: HLF) is a premier health and wellness company, community and platform that has been changing people’s lives with great nutrition products and a business opportunity for its independent distributors since 1980. The Company offers science-backed food products to consumers in more than 90 markets through entrepreneurial distributors who provide one-on-one coaching and a supportive community that inspires their customers to embrace a healthier, more active lifestyle to live their best life.

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