Forbes Global CEO Conference 2025: Real Estate Leaders Unpack Asia's Property Trends [Forbes]
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Source: Forbes
Property's Panote Sirivadhanabhakdi and Hongkong Land's Michael Smith shared the latest trends in Asia's commercial property and hospitality industries at the Forbes Global CEO Conference in Jakarta on Tuesday. Razack, the Indian billionaire chairman of developer Prestige Group in Bangalore, sees an office boom in the South Asian country, driven by demands from the so-called global capability centers, which are offices set up by multinational corporations to handle operations like software development and accounting. “The consumption of office space in the first half in India has been 39,000,000 square feet, which is pretty huge,” said Razack. “And India has crossed the mark of one billion [square feet of] office space.” To capture the opportunity, his company planned to spend 120 billion rupees ($1.4 billion) to add more than 17 million square feet of office space across India into its portfolio, bringing the total to some 30 million square feet of office space by April 2028. M
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