MARKET HIGHLIGHTS

1. Demand for Grade A space has remained strong over the last three months, this is contrary to the same period in 2020 when markets were easing out of lockdown.
2. A strong recovery in domestic economic activity and bullish business sentiments for the remainder of the year is pushing demand for office space in the city.
3. A strong push towards promoting and growing home grown tech and fintech companies is contributing towards the demand for office space, especially flexible space.
4. Relocation continues to be the primary driver of demand. Occupiers are looking to upgrade from lower quality buildings to Grade A developments. This has been to lock in favourable rental rates and to meet ever-growing ESG requirements.

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