Offices absorb Covid-19 pandemic shock in 2022, post 3-year growth record

According to industry reports, southern cities, especially Bengaluru, Chennai and Hyderabad, are emerging as leading hubs in office space leasing owing to robust demand from tech and flex players

After their near desertion in the wake of Covid-19, workplaces well and truly made a comeback in 2022 — making it the second strongest year of recovery for the office market in the past decade.

The year saw record-high completions and pre-commitments after a slowdown of two years. Experts attribute the reversal to various factors including relaxation in Covid-19 restrictions, reopening of offices and job creation. The return to work gained momentum across all sectors, with the major growth drivers being flex spaces, technology, and banking, financial services and insurance (BFSI).

However, with a few challenges emerging across developed economies,