Grade A office space in high demand from MNCs, says Bharti Real Estate MD Sayal

With the Indian economy growing better than the rest of the world, multinational corporations (MNCs) operating in the country are looking to lease more office space in Grade A assets and those yet to come are making inquiries. As a result, there is more demand for commercial real estate in India than supply, said Bharti Real Estate CEO Sushil Kumar Sayal during an interaction.

“India’s economic growth is nothing short of remarkable. There is recognition of India’s strength and capabilities and that demands high quality commercial assets to be developed. We have acknowledged this need, and furthered our office and retail leasing portfolio with an expansive addition driven by deep market research and dialogues with top businesses and brands,” he said. 

“Now, all the unicorns are looking for 50,000 to 1 lakh square feet area kind of requirements. So, who is going to give that? There are only couple of corporate developers like us who are doing these kinds of developments,” Mr. Sayal said.

“And those who are not here, they are all looking at it. And those who are not looking at it now, will all come in three years because there will be nothing comparable available,” he said. 

“Today, in terms of [the Indian] economy rising, all the companies are making a beeline to this country,” he emphasised. 

He said when Bharti Real Estate, a part of Bharti Enterprises, started the Worldmark commercial real estate project at Aerocity in New Delhi, people were sceptical about the demand. 

“But now, people are making a beeline for these kinds of areas. They are coming to country or they are expanding business in the country,” he said. 

He said with an investment of about $2 billion, Bharti Real Estate will building 20 million sq. ft. of commercial space by 2031 under the Worldmark brand, which will be India’s first boundary-less Global Business District (GBD) when complete.

This GBD will also have The Mall slated to open in 2027.

Spread across 90 acre, the Worldmark is being developed as per the vision of Sunil Bharti Mittal, who has built Bharti Airtel into one of the largest telecom companies globally. This GBD will see an employee base of two lakh on a daily basis.