E-commerce has overtaken banking and financial services (BFSI) as the second largest occupier of office space in India after information technology (IT), says a report released by global property consultants CBRE.
A key development witnessed in the second quarter (Q2) is the spurt in office space leasing by online retail companies. With online retail firms such as Amazon, Flipkart and Snapdeal committing large spaces, particularly in the national capital region (NCR) region and Bengaluru, the e-commerce sector took 17% fresh lease in the quarter, followed by BFSI at 16%.
According to report says that with a share of about 36 per cent, IT/ITeS remained the largest occupier of office space across the leading cities i.e. Chennai, NCR, Mumbai, Hyderabad, Pune, Kolkatta and Bengaluru.
Rajat Gupta, Head – Transactions (North), CBRE India, “E-commerce companies can be a serious contender to banks and financial institutions. As long as venture capital funds and investors keep investing money into the sector, we see continuous growth in absorption rates.”