ANAROCK, a prominent property services group, expands its offerings with dedicated commercial office leasing services, complementing its ANAROCK Commercial division. Led by industry veterans, the move aligns with the group's growth strategy, targeting international collaborations and top talent acquisition. Chairman Anuj Puri emphasises strategic timing for the launch, tapping into India's resilient office leasing market poised to exceed 50 million square feet by 2024-end, driven by Global Capability Centers' (GCC) expansion. This surge, led by sectors like technology and BFSI, anticipates a demand surge of 80-100 million square feet.
ANAROCK, a leading property services group, expands its offerings with dedicated commercial office leasing services, a logical progression following the success of ANAROCK Commercial's office strata-sale focus in 2020. This strategic move aligns seamlessly with the group's growth strategy, aiming for international collaborations and the recruitment of top-tier commercial advisory talent to cater to corporate occupiers' needs.
Chairman Anuj Puri highlights the leadership's extensive commercial real estate background, emphasising phased expansion as a business strategy. While commercial office leasing has always been integral to their portfolio, they waited for the opportune moment to launch this vertical.
The timing couldn't be better, with India's office leasing sector outperforming even the most advanced economies. ANAROCK Research reveals the remarkable resilience of the Indian office market despite global uncertainties. Projections indicate that office leasing in India is set to surpass 50 million square feet by the end of 2024, driven primarily by robust leasing activities from Global Capability Centers (GCCs).
Currently, GCCs occupy approximately 200 million square feet, with expectations of expanding their footprint to 280-300 million square feet in the next 3-4 years, resulting in a demand surge of 80-100 million square feet. Key growth drivers include manufacturing, engineering R&D, technology, and BFSI sectors (Banking, Financial Services, and Insurance).
ANAROCK's entry into the commercial leasing and advisory vertical capitalises on India's thriving commercial real estate landscape. By strategically timing the launch and leveraging its leadership's expertise, the group aims to capture a significant market share and deliver exceptional services to its clientele.
In summary, ANAROCK's expansion into dedicated commercial office leasing services marks a strategic move to complete its real estate services portfolio. With a focus on international collaborations, top talent acquisition, and a deep understanding of India's resilient office market, the group positions itself for success in catering to the evolving needs of corporate occupiers. Through this venture, ANAROCK aims to solidify its presence as a leader in the commercial real estate sector while contributing to the continued growth and development of India's office leasing landscape.
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