With office space absorption continuing across key markets such as India, Indonesia, and the Philippines, according to a Cushman & Wakefield report on the Asia-Pacific region.
New Delhi: Demand for commercial real estate remains solid in Delhi-NCR despite global uncertainty. According to Cushman & Wakefield, the commercial eal estate market has attracted highest private equity investment of USD 633.3 million during the January-June period of this year. Out of the total investment in Delhi-NCR, office assets received USD 483.6 million, while residential USD 149.6 million.
With office space absorption continuing across key markets such as India, Indonesia, and the Philippines, according to a Cushman & Wakefield report on the Asia-Pacific region. Net absorption of office space across Asia-Pacific (APAC) in the first quarter of 2025 recorded a robust 20 per cent increase to 26 million square feet (msf) from 22 msf in the same quarter last year, the report states.
According to Mohit Goel, MD, Omaxe Group, Delhi-NCR’s office market continues its upward trajectory, driven by infrastructure upgrades, booming services sector, and sustained demand from multinational corporations and global capability centres. While Gurugram and Noida have long dominated the narrative, cities like Faridabad are increasingly standing out as emerging commercial hotspots.
“We’re seeing a surge in interest from MNCs and domestic enterprises seeking premium office spaces that balance connectivity, affordability, and quality. Besides, the upcoming Noida International Airport is a game-changer, enhancing Faridabad’s accessibility and investor appeal. Thus, we believe the region will continue bringing integrated commercial hubs that meet this rising demand for experience-driven, future-ready workspaces,” he added.
The consultant noted that the surge in investments in Delhi-NCR has been primarily driven by the office segment, with major equity buy-outs by prominent fund houses.
According to Ishaan Singh, Director, AIPL, the demand for Grade A offices has remained strong in Gurugram, particularly for buildings with a proven track record of timely delivery.
“Global firms are becoming selective, not just in location but in the quality of buildings. We’re seeing higher absorption in premium spaces that tick these boxes. Flight to quality is real; tenants are willing to pay a premium for future-proof assets. Hence, we expect leasing in Gurugram’s Grade A segment to accelerate further as companies consolidate into fewer, better buildings that align with long-term goals,” he said.
Delhi-NCR’s office market continues to chart a strong growth path, with Gurugram cementing its position as a leading city for businesses expanding their operations.
“With Grade A commercial developments, superior connectivity, and well-established business districts in place, the city offers the infrastructure and ecosystem global occupiers and new-age employees seek. With the continuous infra upgradation and planned connectivity, Gurugram’s attractiveness strengthens further in dominating the office space demand and leasing activity across key cities. As companies prioritize flexible, future-ready workplaces, Gurugram grabs attention for businesses aiming to scale in NCR’s dynamic commercial landscape,” Sandeep Chhillar, Founder and Chairman, Landmark Group, concluded.
