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A micromarket set to expand

DNDEL8641 | 8/26/2017 | Author : Surabhi Arora | WC :455

Area Watch: The Colliers Quarterly report on Gurugram states that the upcoming SEZ supply is likely to drive demand in future
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With significant new supply scheduled for completion along Golf Course Extension Road by 2020, we expect this corridor to become the next hotspot for Information Technology and Information Technology enabled Services (IT-ITeS) occupiers. We recommend big occupiers looking for large floor plates in Special Economic Zones (SEZs) to consider this micromarket for future expansion.

Demand
Demand likely to improve with several occupiers looking for new space primarily in the technology and financial sectors.

Supply
About 0.5 million sq ft (46,400 sq m) of new supply is likely to see completion in in H2 2017. By 2020 the market is likely to see an addition of about 11 million sq ft (1.02 million sq m).

Vacancy r
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