ASIA PACIFIC OUTLOOK 2025

AHMEDABAD

DEMAND & VACANCY

Office absorption is expected to reach 1.17 msf by the end of 2024, backed by rising demand from BFSI, IT-BPM and flex space operators. This momentum is expected to continue over the next few years as flex operators are expanding and the city is attracting new occupiers. Vacancy is expected to rise sharply in 2025 and could remain slightly elevated over the coming 2–3 years, before tapering down.

33.0%

1.6

FORECAST

1.4

32.0%

1.2

31.0%

1.0

30.0%

0.8

29.0%

0.6

28.0%

0.4

27.0%

0.2

26.0%

0.0

2022 2023 2024F 2025F 2026F 2027F 2028F 2029F

NET ABSORPTION (MSF) AND VACANCY RATE (%)

Net Absorption

Vacancy Rate

Cushman & Wakefield

ASIA PACIFIC OUTLOOK 2025

Source: Cushman & Wakefield