ASIA PACIFIC OUTLOOK 2025

AHMEDABAD

KEY MESSAGES

Supply

Demand

Rents

Key Outlook

The city is currently attracting major IT-BPM occupiers supported by the state government’s IT policy, SEZ benefits and talent pool availability.

A total of 2.6 msf of new supply is expected to enter the Ahmedabad office market across submarkets in 2025.

Net absorption in 2025 is expected to reach 1.35 msf. Demand momentum is expected to continue in 2026 and 2027 with an average of 1.4 msf of net absorption each year.

Rents are forecast to grow by ~2% between 2025 and 2026, backed by rising demand for quality office space in the city.

A further 2.0 msf is expected in 2026, followed by an average supply of 1.5 msf anticipated in the 2027–2029 period.

Rents will likely move to INR560 per sq ft per year by end-2025, and then to INR572 by end-2026.

Submarkets such as GIFT City and SBD have been attracting large occupiers.

Vacancy is expected to stay in the range of 30%–31% from 2025 through 2027.

The strong supply additions in 2025 and 2026 will be a driver for a rise in the vacancy level by ~1.5%.

Cushman & Wakefield

ASIA PACIFIC OUTLOOK 2025