Connect with us

News Wire

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.

Colliers_New_Logo

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

Logo: https://oyefilmy.com/wp-content/uploads/2025/03/india-drove-16-yoy-surge-in-apac-office-demand-in-2024-market-expansion-to-continue-in-2025-colliers-1.jpg

 

Cision View original content:https://www.prnewswire.com/in/news-releases/india-drove-16-yoy-surge-in-apac-office-demand-in-2024-market-expansion-to-continue-in-2025-colliers-302394570.html

Continue Reading
Advertisement
Click to comment

You must be logged in to post a comment Login

Leave a Reply

News Wire

Harper Collins Publishers India is Delighted to Announce the Recent Publication of ‘People We Love’ by Preeti Shenoy

NEW DELHI, June 19, 2026 /PRNewswire/ — HarperCollins Publishers India is delighted to share the recent publication of People We Love by bestselling author Preeti Shenoy. At once tender and sharp, this collection of stories offers intimate, truthful and relatable portraits of the people we cherish, the ones we lose, and the people we become.

ABOUT THE BOOK

The people we love never truly leave our story…

In these tender yet piercing stories, Preeti Shenoy returns to some of her most beloved characters to reveal who they were before they appeared in her bestselling novels It’s All in the Planets and The One You Cannot Have.

Aniket, a coder, carries the weight of a longing for Trisha that he cannot bring himself to act on. Nidhi abandons her corporate life to teach pottery, only to discover that clay is far more forgiving than the people she loves. A quiz competition sparks an unlikely romance between Aman and Shruti, one that must withstand parental disapproval and class divides. And Anjali, a journalist, is so busy chasing stories that she almost misses the one unfolding in her own life.

Set against the pulse of contemporary India, People We Love explores the tug-of-war between duty and desire, family and freedom, who we are and who we dare to be. Intimate and deeply felt, these are stories about love that stays, leaves and almost slips away … love that quietly and irrevocably shapes the people we become.

Preeti Shenoy, author, says, “People We Love is a collection of three long stories, prequels to my bestsellers It’s All in the Planets and The One You Cannot Have. If you have read those books, you already know how these characters’ stories unfold. But what you don’t know yet is where it all began, the loves they carried, the choices they made, and the people they were before life shaped them into who you met on those pages. Writing these prequels felt like returning to a home I hadn’t realised I missed, and discovering rooms I had never been in before.”

Rashmi Menon, Associate Publisher – HarperCollins India, adds, “Preeti Shenoy has an extraordinary gift for finding the heartbeat of ordinary lives. People We Love is a warm, wise and deeply humane collection of short stories that reunites readers with favourite characters from her bestselling novels It’s All in the Planets and The One You Cannot Have, weaving them into fresh, deeply satisfying narratives. These characters feel like people you know, and their journeys will move, comfort and surprise you. This uplifting, thought–provoking collection reminds us why we turn to stories in the first place. We couldn’t be more excited to share it with our readers.”

ABOUT THE AUTHOR 

Preeti Shenoy is among the highest-selling authors in India. She was featured on the Forbes longlist of the most influential celebrities in India. Her books include When Love Came Calling, Wake Up Life, Is Calling, Life Is What You Make It, The Rule Breakers, A Hundred Little Flames, It’s All in the Planets, Why We Love the Way We Do, The Secret Wish List, The One You Cannot Have and many others. Her work has been translated into many Indian languages. Preeti is also a motivational speaker, an avid fitness enthusiast, and an artist specializing in portraiture and illustrated journalling. Preeti lives in Bengaluru, Karnataka.

ABOUT HARPERCOLLINS PUBLISHERS INDIA

At HarperCollins Publishers India, we believe in telling the best stories and ensuring they reach the widest readership. We publish around 250 new books every year across 10 imprints, adding to a diverse catalogue of more than 3,000 titles in print and digital formats, with an array of genres and voices that ensure there is a book for every reader. Our authors have won some of the most prestigious literary awards, and we are proud to publish many acclaimed writers, alongside new and emerging voices shaping contemporary literature. We are also the publishers of The White Tiger by Aravind Adiga, winner of the Booker Prize 2008, and Girl in White Cotton by Avni Doshi, shortlisted for the Booker Prize in 2020, and HarperCollins India itself has been awarded “Publisher of the Year” several times. In addition, we represent some of the finest global publishers such as Harvard University Press, Lonely Planet, Oneworld, Nosy Crow, Usborne, and National Geographic Children, bringing Indian readers access to world-class books and ideas. We are also proud to be certified as a Great Place to Work for two consecutive years, a recognition of our culture, people, and values that make HarperCollins India a truly inspiring workplace. 

PRESS CONTACT:

Nandini Tripathi, Manager – Marketing (Commercial)

Email: nandini.tripathi@harpercollins.co.in | Mobile: +91 9718928839

Photo: https://oyefilmy.com/wp-content/uploads/2026/06/harper-collins-publishers-india-is-delighted-to-announce-the-recent-publication-of-people-we-love-by-preeti-shenoy-1.jpg

Logo: https://mma.prnewswire.com/media/2105077/4665143/HarperCollins_Logo.jpg

 

Cision View original content to download multimedia:https://www.prnewswire.com/in/news-releases/harper-collins-publishers-india-is-delighted-to-announce-the-recent-publication-of-people-we-love-by-preeti-shenoy-302805348.html

Continue Reading

News Wire

Fulfilling PM Modi’s Dream of Atmanirbhar Bharat: India’s AI Writing Startup Kreativespace Incubated at IIT Kharagpur

  1. Kreativespace, an Indian AI-powered writing platform founded by Vinet Kakadea, has been incubated at IIT Kharagpur and recognized by SVNIT University, Ministry of Education under Bodhan AI Conclave also through the NVIDIA Inception Program, AWS Startup Program, and DPIIT under Startup India.
  2. The platform unifies 8 AI-powered writing tools, along with AI Humanizer and Message AI feature being the latest addition into a single ecosystem, so you can generate and refine content all in one place.
  3. The company reports more than 50,000+ signed-up users, 75,000+ anonymous users, and roughly 100,000 monthly website visitors, positioning itself as the only Indian company operating at scale in the global AI writing market.

SURAT, India, June 19, 2026 /PRNewswire/ — Kreativespace, an AI-powered writing platform, is building out its position as the only homegrown alternative in a market long dominated by international tools such as Grammarly and QuillBot. Founded by Vinet Kakadea and incubated at IIT Kharagpur, the company has aligned its growth with the broader push behind Prime Minister Narendra Modi’s Atmanirbhar Bharat (Self-Reliant India) initiative, which encourages indigenous technology development capable of competing on a global scale.

Kreativespace Incubated at IIT Kharagpur

As AI adoption accelerates across India’s education, research, and enterprise sectors, Kreativespace is among a small group of Indian startups building writing technology designed to compete directly with established international platforms.

Kreativespace’s progress has been recognized by several institutions central to India’s startup and technology ecosystem. The company has been incubated at IIT Kharagpur, selected under SSIP 2.0 through SVNIT University, and chosen by the Ministry of Education to present its work at the Bodhan AI Conclave. It has also been accepted into the NVIDIA Inception Program and the AWS Startup Program, and holds DPIIT recognition under the Startup India initiative.

Where many writing-tool users rely on separate subscriptions for content generation to refinement for grammar correction, paraphrasing, plagiarism checking, citation generation, and editing, Kreativespace brings these functions into a single platform as a super-app for AI writing tools. The company says its approach centers on affordability and accessibility alongside performance, aiming to make advanced AI writing assistance available to a wider range of users regardless of geography or budget.

The idea for Kreativespace took shape while founder Vinet Kakadea was studying at New York University and Marymount University in the United States, where he experienced firsthand how students, researchers, and professionals often need multiple paid subscriptions to cover writing-related tasks. That fragmented experience led him to build a super-app offering each of these capabilities together, at a more accessible price point.

Kreativespace combines 8 AI-powered writing tools with AI Humanizer and Message AI feature being the latest addition, allowing users to generate, rewrite, refine, and humanize content without moving between separate platforms. The product is available via web platform, mobile apps on the App Store and Google Play, browser extensions for Chrome, Mozilla, and Edge, and a Google Docs add-on.

Vinet Kakadea, Founder of Kreativespace, said, “Kreativespace’s vision is to digitalize the entire Indian education ecosystem to support PM Modi’s Atmanirbhar Bharat scheme.”

About Kreativespace

Kreativespace with the Motto of Making Writing Accessible for Everyone: Kreativespace is an AI-powered writing platform built to make AI writing tools accessible, affordable, and effective for students, researchers, educators, professionals, content creators, startups, and enterprises. Founded by Vinet Kakadea, the company is incubated at IIT Kharagpur and has been recognized by AWS Startup Program, the NVIDIA Inception Program, and DPIIT under Startup India. For more information, visit kreativespace.com.

Cision View original content to download multimedia:https://www.prnewswire.com/in/news-releases/fulfilling-pm-modis-dream-of-atmanirbhar-bharat-indias-ai-writing-startup-kreativespace-incubated-at-iit-kharagpur-302804117.html

Continue Reading

News Wire

Santokbaa Humanitarian Award 2026 Marks 20 Years of Compassion and Service

SURAT, India, June 18, 2026 /PRNewswire/ — The Santokbaa Humanitarian Award 2026, instituted by Shree Ramkrishna Knowledge Foundation (SRKKF), the philanthropic arm of Shree Ramkrishna Exports (SRK), marked 20 years of honouring individuals who have made a lasting difference through compassion, service and leadership. The awards were presented recently in Surat.

This year’s Santokbaa Humanitarian Award was conferred on Padma Shri Dr. Gullapalli N. Rao, renowned Indian ophthalmologist and Founder-Chair of the LV Prasad Eye Institute, and Padma Shri Smt. Reema Nanavaty, development worker and Director of the Self-Employed Women’s Association (SEWA). Their work has touched millions of lives through healthcare, empowerment and community development.

In a significant addition this year, SRKKF introduced the Social Entrepreneur Award to recognise leaders who combine business excellence with measurable social impact. The inaugural award was presented to Shri Srikanth Bolla, Founder of Bollant Industries, a sustainable manufacturing company known for disability-inclusive employment and environmentally responsible practices.

The event was graced by Chief Guest Shri Harivansh Narayan Singh, Hon’ble Deputy Chairman of the Rajya Sabha and Guests of Honour Shri Harsh Sanghavi, Hon’ble Deputy Chief Minister of Gujarat; along with several other distinguished personalities.

Established in 2006 by Shri Govind Dholakia, Founder & Chairman Emeritus of Shree Ramkrishna Exports Pvt. Ltd. and SRKKF, the award reflects the legacy of compassion and selfless values embodied by his mother, Santokbaa. Over the past two decades, it has become a platform to honour individuals whose lives and work continue to inspire society.

The awardees are selected through a rigorous and transparent process led by an independent jury comprising leaders from diverse fields. The 2026 jury included Shri Govindan Rangarajan, Director, Indian Institute of Science (IISc), Bengaluru; Shri A.S. Kiran Kumar, Former Chairman, ISRO; Admiral R. Hari Kumar (Retd.), Former Chief of the Indian Navy; Shri Rishabh Shroff, Partner, Cyril Amarchand Mangaldas; and Shri Shreyans Dholakia, Entrepreneur and Brand Custodian, SRK.

Addressing the gathering, Chief Guest Shri Harivansh Narayan Singh said that the SRK Foundation is carrying forward Santokbaa’s legacy to the next generation by celebrating service, sacrifice and compassion over wealth or fame. He added that the family’s effort to connect this legacy with social entrepreneurship reflects the values of nation-building.

Shri Harsh Sanghavi said the Santokbaa Award reminds us that true achievement lies not only in personal success, but in bringing light and happiness to others. Shri Govind Dholakia said his mother Santokbaa spent her life guided by truth, love and compassion, and that her values continue to inspire the family’s work. He added that the award’s 20-year journey is a tribute to changemakers whose efforts have strengthened communities across the country.

Speaking on the honour, Dr. Gullapalli N. Rao said it was a privilege to receive the recognition on behalf of all those working to expand access to quality eye care. He said restoring sight restores dignity and opportunity, and praised SRK’s world-class operational systems. Smt. Reema Nanavaty said the award belonged to the millions of women whose resilience and entrepreneurial spirit continue to inspire SEWA’s mission. She noted that when women are empowered, they become agents of change for their families and communities. Shri Srikanth Bolla said his journey has shown that limitations often exist more in perception than reality, and that the award is a reminder that with the right support, every individual can contribute meaningfully to society.

Over the past 20 years, the Santokbaa Humanitarian Award has honoured 20 of India’s most distinguished humanitarian and social leaders, including Shri Ratan Tata, His Holiness the 14th Dalai Lama, Dr. Sudha Murty, Dr. Cyrus Poonawalla, Shri Shiv Nadar, Dr. Abhay Bang and Dr. Rani Bang, Dr. Verghese Kurien, Shri Kailash Satyarthi and Shri A.S. Kiran Kumar. With the introduction of the Social Entrepreneurship Award in 2026, the milestone celebration reaffirmed the importance of empathy, service and purposeful leadership in building a better future.

About Santokbaa Humanitarian Award:

Over the past 20 years, the Santokbaa Humanitarian Award has honoured 19 of India’s most distinguished humanitarian and social leaders, including Shri Ratan Tata, His Holiness the 14th Dalai Lama, Dr. Sudha Murty, Dr. Cyrus Poonawalla, Shri Shiv Nadar, Dr. Abhay Bang and Dr. Rani Bang, Dr. Verghese Kurien, Shri Kailash Satyarthi and Shri A.S. Kiran Kumar, among other eminent personalities. In 2026, SRKKF also instituted the Santokbaa Social Entrepreneurship Award, with Shri Srikanth Bolla becoming its inaugural recipient.

As the Santokbaa Humanitarian Award completed a remarkable 20-year journey, the milestone celebration reaffirmed the enduring importance of empathy, service and purposeful leadership in shaping a better future. The journey endures, contributing to nation-building through compassion, innovation and service to humanity.

For more information, visit: https://srk.foundation/honours

Photo: https://oyefilmy.com/wp-content/uploads/2026/06/santokbaa-humanitarian-award-2026-marks-20-years-of-compassion-and-service-1.jpg

 

Cision View original content to download multimedia:https://www.prnewswire.com/in/news-releases/santokbaa-humanitarian-award-2026-marks-20-years-of-compassion-and-service-302804299.html

Continue Reading

Trending