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Below the year-end quotes By Mr Badal Yagnik, CEO, Colliers India

“Although, the start of the year was cautious, 2023 is on course to become one of the best-performing years in real estate sector across asset classes. Leasing activity in office market is inching towards 50 mn sq.ft. comfortably; residential activity remains robust with sales and launches likely to breach 2022 levels convincingly. After two consecutive years of significant recovery and sturdy growth, 2024 is likely to be a year of redemption where real estate will reshape, restructure and realign on a stronger domestic footing. In addition to heightened focus on sustainability, a mix of core plus flex strategy will characterise the commercial real estate market of India, even in the smaller Tier II cities. Active institutional investor pursuit for prime ventures in office, residential, data centre, logistics and shared space markets will extend India’s decisive positioning in real estate-specific investments within the APAC region.”

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