Companies Now Investing in Premium Office Fit-Outs

Companies Now Investing in Premium Office Fit-Outs

Companies are increasingly investing in office fit-out to prioritize higher specifications and enhance employee engagement and wellbeing. This trend reflects a growing preference for premium spaces aimed at attracting and retaining talent. Savills India’s data indicates a significant shift in office fit-outs, with 35% now categorized as standard, 50% as mid-grade, and 15% as high-grade. Fit-out cost inflation remained stable until the Covid-19 outbreak brought volatility to the sector. However, technology has helped mitigate some cost escalation by reducing dependence on imports. The construction industry is expanding driven by government focus on infrastructure development and foreign investment. The interior fit-out segment has experienced growth with a compounded annual growth rate of 9% over the past decade. It is projected to further expand globally and specifically in the Indian interior design market. Factors contributing to this growth include urbanization, modernization demands, and the evolving needs of a post-pandemic workforce seeking adaptable and health-focused work environments.

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TIS Staff

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