Indian Economy News

Unicorns to take on lease 8.1 mn sq ft office space in 2022-24: Report

  • IBEF
  • June 13, 2022

According to property consultant Colliers India, unicorn startups with a valuation of US$ 1 billion or more are anticipated to lease 8.1 million sq. ft. of office space across six major cities between 2022 and 2024.

As a result, the total office space occupied by unicorns would reach about 14 million sq ft. by 2024, a two-fold rise from the current level.

According to Colliers India and CRE Matrix statistics, startups, including unicorns and non-unicorns, are expected to lease 29 million sq. ft. between 2022 and 2024, up from 22.4 million sq. ft. in the previous three years.

Bengaluru remained the top startup hub with a 34% leasing share during 2019-22, with Koramangala, HSR and Indiranagar being the preferred locations for startups.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.