Outlook 2023 India

BENGALURU NEW SUPPLY

NEW SUPPLY (MSF)

20

 New supply for 2022 is expected to reach 13-14 msf, a historic high supply over the decade.  Supply during 2023 & 2024 is likely to total ~34 msf with the Outer Ring Road submarket accounting for approx. 45-50% of the supply to 2024.  The average annual supply beyond 2024 is expected to range between 11-12 msf.  Future supply might vary slightly with chances of newer projects being announced, particularly in emerging submarkets.

FORECAST

18

16

14

12

10

8

6

4

2

0

2020

2021

2022F

2023F

2024F

2025F

2026F

Source: Cushman & Wakefield