Asia Pacific Office Outlook 2024

KOLKATA

NEW SUPPLY

N EW S U P P LY ( M S F )

2.5

FORECAST

 After a period of no significant new supply, Kolkata is expected to witness new completions of around 1.5 msf in 2023.  The projects are located across the Salt Lake Sector V and CBD submarkets. The key feature of 2023 is the operationalization of a large project in Salt Lake Sector V with substantial space takeup by a major IT-BPM occupier. Another project at completion and is likely to enter the market in 2024.  Over 2 msf of new supply is expected in 2025 including expansion of a Brookfield India REIT-owned property followed by smaller supply additions over 2026–2027. Park Circus Connector submarket is nearing

2.0

1.5

1.0

0.5

0.0

2021

2022

2023F

2024F

2025F

2026F

2027F

Source: Cushman & Wakefield