Clarivate Leases 170K Sq Ft in Noida's Embassy Oxygen

11 Nov 2024 , 12:40 PM

According to news reports, the data intelligence firm Clarivate has leased 170,000 square feet of space at the Embassy Oxygen office park in Noida.

Leasing activity has increased as a result of multinational corporations increasing their office presence in India.

A global leader in networking technologies, services, and software, Ciena, which is listed on the NYSE, recently leased 135,000 square feet of office space from Tata Realty in Gurgaon’s TRIL tower.

During the July-September quarter, Embassy REIT, which owns and manages a portfolio of 14 office parks totalling 51.1 million square feet, leased 2.1 million square feet of space through 24 agreements.

Bengaluru led the demand, accounting for 77% of the overall quarterly leasing activity, while global capability centres (GCCs) accounted for roughly half of the leasing activity during the quarter.

At 29% of the quarterly demand in the National Capital Region (NCR), the information technology-business process management sector was in the lead, followed by flexible workspaces at 15%. NCR achieved 1.8 million square feet of net absorption during the September quarter, which represented a 24% quarter-over-quarter and a 50% year-over-year increase.

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