In India, the bet among investors is that offices will remain vibrant as the coronavirus has to date left them unscathed, according to The Print.
Most landlords housing large information technology and multinational companies collected 95%-99% of rents despite one of the world’s strictest lockdowns, exchange filings show, according to the article.
“Attention is focused on the country’s office market, where low-cost call centers have made way for research laboratories …. Rolls Royce Plc has a facility in a building owned by Blackstone in southern India and Novartis AG has a team of doctorates. Brookfield’s technology park in northern Gurgaon has tenants including Cognizant Technology Solutions Corp. and Genpact Ltd… Even firms looking to permanently transition to flexible working conditions are leasing offices in India. Standard Chartered Plc, which aims to offer hybrid work to more than 90% of its employees over three years, will rent space from Indian developer DLF Ltd. for 15 years for one of its biggest global campuses,” the article said.