The Manufacturing Sector: Growth Story of India

E&M’s share in total seat absorbed in flex offices across top-8 cities E&M OCCUPIERS’ SPACE CONSUMPTION IN FLEX OFFICES

120,000

10.0%

9%

100,000

7%

80,000

60,000

3%

40,000

20,000

105,967

85,234

37,759

0

0.0%

2020

2021

2022

Total Seats

E&M share

Source: C&W Research

There has been a significant increase in the total number of seats take-up by occupiers from flex space operators in the post-Covid period. Number of seats take-up has risen from 37,759 in 2020 to 85,234 in 2021, and further to 105,967 in 2020 across the top-8 real estate markets of India. E&M has been an important contributor to this rise in demand for flex seats, with the sector now accounting for ~9% of overall seats take-up, compared with merely 3% in 2020. E&M occupiers are increasingly realising the need to provide well-managed office spaces to retain and attract talent, while also keeping their real estate CAPEX low.

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Cushman & Wakefield

The Manufacturing Sector Growth Story of India

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