Gartner leases 300,000 sq ft of office space in DLF Cyper Park
Oct 27, 2017
Source: ET Realty
NEW DELHI: Gartner , an American research and advisory firm, has leased 300,000 sq ft of office space in DLF cyber park.
The move comes after the company acquired CEB, a company providing best practice and talent management insights, for $2.6 billion in April 2017.
“The gross leasing volume in Q2, 2017, was recorded at nearly 0.9 million sq ft in Gurugram. In Q2 2017, Golf Course Extension Road gained a significant share of total leasing volume, accounting for 37%, followed by NH8 with 18%, Udyog Vihar with 14%, MG Road (12%), Cyber City (9%) Golf Course Road (7%) and other micromarkets (3%), said Sanjay chatrath, executive director (NCR), Colliers International India.
According to Colliers’ recent report, at least 11 million sq ft of office supply is expected by 2020 in Gurugram. “The region is attracting interest from occupiers, especially from those looking for large floorplates in affordable rents for consolidation and expansion,” said Chatrath.
Average rents in Gurugram too increased by 0.9% in Q2 2017 over the previous quarter, according to the report. “The low vacancy markets such as DLF Cyber City, Golf Course Road may witness a further upward pressure on rents especially in grade A office developments, said Surabhi Arora, Senior Associate Director, Research, Colliers International India.