CBRE Projects 4-5 Lakh Job Opportunities In Big Cities In 2yrs

Wednesday, 30 April 2014, 13:05 Hrs
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NEW DELHI: About 4-5 lakhs job opportunities are expected to be generated within the next two years in the major cities taking into account likely absorption of upcoming office space, according to global property consultant CBRE.Bangalore and the national capital region are expected to contribute more than half of this total expected employment opportunity by the end of 2015.
"Employment opportunities to the tune of approximately 4-5 lakh are expected to be generated within the next two years across the country's leading cities. In case India's economic growth accelerates to above 6% in 2015, more such opportunities may be expected," CBRE South Asia Chairman and Managing Director Anshuman Magazine said.
Quoting CBRE Research, he said over 70-80 million sq ft of new office space is anticipated to be ready for possession by 2015 in the top seven cities -- Delhi-NCR, Mumbai, Bangalore, Hyderabad, Chennai, Pune and Kolkata.
"Assuming about 60-65% absorption levels for this upcoming office space, approximately four to five lakh employment opportunities may be realistically anticipated within the next two years," Magazine said.
IT/ITeS and allied services sectors are likely to account for a substantial chunk of this opportunity, followed by the banking, financial, services and insurance (BFSI) sectors; and distantly followed by research and consulting, pharmaceutical, engineering and manufacturing, and telecommunications.
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Source: PTI
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