Bullmen Realty has announced its entry into commercial office space leasing.
The move comes at a time when co-working space is picking up pace, especially in the post-pandemic scenario when organisations are looking to control their office expenses and at the same time expand their reach to maximise business.
Ajay Pandey, Head, Corporate Leasing, Bullmen Realty, said, “We expect office leasing to see a pick-up from Q2CY21 (April 2021 onwards) and expect 30 million sq. ft. of net absorption. Our target is to capture corporate leasing market in 2021-22, and get 4-5 lakh sq. ft. in NCR market. Our main focus is on Noida, Gurugram, Hyderabad, and Bengaluru as these four areas are in demand by big corporates.”
The company says although the overall leasing pace is still sluggish, large corporations are looking at large commitments in the coming months.
“They may follow a flexible work policy as businesses return to workplaces and are likely to increase the room per employee, from 75-80 sq. ft. to about 100 sq. ft. Compared to multinational businesses, Indian firms have also returned much faster. All these trends point towards a robust office space leasing market,” added Pandey.