ASIA PACIFIC OUTLOOK 2025

CHENNAI

NEW SUPPLY

For 2024, new supply is anticipated at around 2.1 msf, marking the lowest annual addition since 2021.

7.0

FORECAST

Supply is expected to be strong in 2025 and 2026, with emerging submarket of Peripheral South West expected to contribute ~25% of the combined supply for these two years. Approximately 1.5 msf of the 2025 2026 supply has been pre committed by occupiers in BFSI and Flexible Workspace sectors. Pre-commitment levels are expected to rise due to healthy active demand from occupiers.

6.0

5.0

4.0

3.0

2.0

NEW SUPPLY (MSF)

1.0

An estimated 10 msf of new supply is anticipated between 2028 and 2029.

0.0

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

Cushman & Wakefield

ASIA PACIFIC OUTLOOK 2025

Source: Cushman & Wakefield