ASIA PACIFIC OUTLOOK 2025

BENGALURU

DEMAND & VACANCY

Bengaluru is expected to witness net absorption of around 12.5 msf in 2024, a record high for the city. Absorption is being driven by fresh demand for large spaces from global multinationals, who are implementing expansion plans.

14.0

14.0%

FORECAST

12.0

12.0%

The pipeline of deals remains strong as many occupiers are expected to increase space take-up in 2025 and beyond owing to increased net hiring.

10.0

10.0%

8.0

8.0%

6.0

6.0%

A few pre-committed properties are expected to enter the market in 2025, resulting in higher net absorption.

4.0

4.0%

2.0

2.0%

Vacancy is expected to rise marginally in 2024 on the back of higher supply. While demand will remain strong in 2025, regular supply additions is likely to keep vacancies slightly elevated.

0.0

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