Summary:

According to Knight Frank, flexible office space operators in India have raised $820 million in private equity investment since 2017, driven by corporate demand. Investments varied, increasing from $25 million in 2017 to $113 million in 2019, with significant investors including CLSA Capital. However, COVID-19 resulted in a sharp decline in financing, dropping to $11 million in 2020 and $6 million in 2021. A resurgence in 2022 led to record investments of $595 million before falling to $13 million in 2023.

The research indicates that flexible space operators leased about 52.9 million square feet between 2017 and mid-2024, representing a solid CAGR of 22%. Mr. Shishir Baijal, Chairman and Managing Director of Knight Frank India, emphasized the resilience of India's commercial real estate industry, which is supported by GDP growth predictions for FY25, positioning India as the fastest-growing major economy. He stated that flexible office operators are well-suited to meet changing demands for employee well-being while implementing ESG principles and cutting-edge technologies.

Source: IBEF 

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