Office space absorption...going...gone..!

According to a study by global commercial real estate services firm CB Richard Ellis (CBRE), Office space absorption in the country has gone down by 41.11% cumulatively in the three quarters ended September this year, as a fallout of the global economic slowdown.

The total office space taken up between January and September this year stood at 5.3 million sq ft as against 9 million sq ft in the corresponding period last year. According to the report, rentals in the National Capital Region are likely to remain stagnant for the next few quarters.