Green Compliant Office Buildings Boom in India

The recently released CBRE-CII joint report titled ‘Indian Real Estate: Taking Giant Strides - 2023 Mid-Year Outlook’ highlights the growing focus of developers and occupiers on sustainability, green-certified office stock in India, which has increased by over 36% since 2019 to about 342 mn. sq. ft. across top six cities in India. Bangalore, Delhi-NCR, and Mumbai are among the top 3 cities spearheading green-compliant office spaces with a cumulative share of ~68% of the total, green-certified office stock in India as of June’23. Certified green office stock also increased substantially, growing at a CAGR of ~7.1% in the last ~5 years.

Enhanced focus on global and domestic Environmental, Social and Governance (ESG) regulations are driving occupiers’ flight-to-quality wave towards modern, premium, and sustainable spaces in the medium to long term. Sustainable building features and operations are increasingly becoming the most sought-after building attributes.

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