Office: Space take-up had been robust early in Q1 but failed to sustain the momentum over the last 4-6 weeks. Leasing activity is likely to remain muted in Q2, but a gradual pick-up is likely in H2 depending on how soon the lockdown is lifted and subsequent situation evolves.
Residential: Given the broader economic impact and uncertainty prevailing currently with the COVID-19 outbreak is expected to dampen market sentiments at least for the next 2-3 quarters. Weak affordability and subdued demand conditions are likely to prevail across the city.
Retail: Mall rentals across the city have remained stable amidst a declared pandemic that has resulted in revenue loss both for operators and the retailers with mall closures and the subsequent national lockdown.
India Investment: The COVID pandemic put a lot of countries on lockdown mode and some ongoing deals and those in advanced stages went on hold due to investment decisions being delayed or final contracts not yet signed.
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