The Colliers Consulting has predicted an increment of 8% in the lease amount of offices in White Field of Bangalore during the next two years. This is attributed to unprecedented demand for the office space in the garden city following successful execution of the Byappannahalli-White Field Metro rail service.
The increment in lease is depends on several economic factors besides the increase in the demand for the office space. The garden city that emerged as the second biggest market for the office space leases has an office space of 40.4 million square feet in stock. Last month saw, Metro service operating its services to White Field partially. Thus, the connectivity to White Field has increased manifold. As a result, the demand for office space will increase many times. The average annual availability of the office space during 2017-2022 has increased 10 per cent compared to the availability of the office space during 2011-16 due to commencement of Metro services. Similarly, leasing activity also witnessed 18 per cent increase.
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