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Evolving office space trends in a post pandemic world-Colliers Propstack Report

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The future is hybrid. Office usage patterns will change, and occupiers will become nimble to maximize efficiency.

• Fresh leasing post pandemic was at 67 million sq ft, a drop of 45% from pre-pandemic levels.
• Occupiers are negotiating and renewing spaces, while postponing fresh leasing decisions. 
• Bengaluru followed by Mumbai witnessed the highest share of term renewals post pandemic.
• Renewals accounted for 23% of the leasing post March 2020, up 8 percentage points from pre 
pandemic scenario.
• Pune, followed by Hyderabad saw the steepest decline in leasing post pandemic.

 

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Evolving office space trends in a post pandemic world-Colliers Propstack Report

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Related Experts

Ramesh Nair

Chief Executive Officer | India

Managing Director, Market Development | Asia

Mumbai (Regional Office)

Ramesh has over 24 years of experience in consulting across top-tier International Property Consultants (IPCs). As the Chief Executive Officer (CEO), India & Managing Director, Market Development, Asia, Ramesh drives Colliers India’s overall direction, strategy and growth. He is responsible for developing new client relationships, ensuring consistently superior levels of service delivery, and incubating new specializations. Having worked across diverse asset classes such as office, land, warehousing, industrial, retail, residential, data centers, and hotels advising leading domestic and multinational owners, investors, and occupiers, he aligns all business lines towards the firm’s strategy internally and externally.

He develops a country-wide growth plan, manages revenues, operating expenses, and profitability to drive results, identify trends, and take corrective action. Ramesh also creates our workforce to provide innovative future solutions and help clients define and deliver successful real estate projects of the highest quality. As Managing Director, Market Development, Asia, Ramesh uses his considerable industry experience to add value beyond the boundaries of India and develop services, expand client relationships, and attract other talented professionals to the company. Ramesh also serves on the Colliers Asia Executive Board.

Before joining Colliers, Ramesh served as the CEO & Country Head of JLL India, where he oversaw the work and outputs of ~12,000 professionals working across transactions, consulting, and annuity businesses. During his tenure, he successfully grew the company to record heights. Previously, Ramesh held other leadership positions at JLL, such as COO – India; MD - West India; South India Markets Head; India Head of Land; MD – Industrial; MD – Chennai; and MD – Hyderabad. Ramesh was one of the youngest International Directors and Country Heads of JLL globally. He has also been a member of the Asia Pacific Executive Board of JLL and the J8, a group of JLL’s eight most prominent countries in terms of profits and revenues globally amongst 80 countries.

Easily one of the most recognizable persons in real estate in India, Ramesh is one of the influential thought leaders in the Industry. He has written widely for prominent publications like the Times of India and Economic Times. He frequently appears on business shows across leading business channels such as CNBC.

A firm believer in the value of education, he has been a guest lecturer at prestigious institutes such as IIM Ahmedabad, IIM Kolkata, ISB Hyderabad, JBIMS, and SP Jain.

 

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Vaishnavi Bala

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As part of the Research team in Delhi NCR, I  track real estate industry trends. Prior to research services, I have worked in valuations and consulting domain and undertaken  assignments  for various real estate asset classes.

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