American financial services giant State Street Corporate Services has secured a landmark 10-year lease for 2.1 lakh sq ft in Coimbatore's IndiaLand Tech Park, highlighting the growing corporate interest in tier-2 Indian cities.

Corporate India is experiencing an unprecedented surge in pre-leasing activity for premium carbon-neutral office spaces as demand significantly outpaces supply. 2024 has already seen a record 89 million square feet leased across India's top eight cities.

Amazon, Cognizant, IBM, Accenture, and McKinsey are renewing leases in India's office space market, which is booming. Bangalore led the list of cities where major firms renewed office space, with 1.6 million square feet renewed between January and July 2024.