The e-commerce boom seems to be over as far as real estate space absorption is concerned in Bengaluru. Although Bengaluru witnessed a strong growth in office market transactions in 2016 with the absorption of 11.4 million sq ft, the share of e-commerce in the total office space declined drastically. The share of e-commerce was just around 2% last year from around 5% in 2015 and the total office space leased by the sector was 181,000 sq ft.
According to data available with a property consultant, the e-commerce sector witnessed its lowest office space absorption in Bengaluru in the last few years. There were a handful of transactions, with Snapdeal snapping up 35,000 sq ft, Amazon Internet Services (20,000 sq ft), Groupon (20,000 sq ft), Quikr (8,000 sq ft) and MakeMyTrip among others.
Read more: Financial Express
