Business

Global Capability Centres Drive Office Space Growth In India

India’s Global Capability Centres (GCCs) are leading commercial real estate absorption, surpassing pre-Covid levels.

Strong demand, a skilled talent pool, and cost advantages attract global corporations to the country.

According to JLL, GCCs committed 27.7 million sq ft of Grade A commercial real estate in 2024 and 24.1 million sq ft in 2023.

These commitments accounted for 36% and 38% of total real estate absorption, respectively.

Meanwhile, Knight Frank India reported that GCCs leased 22.5 million sq ft in 2024, representing 31% of total leasing volumes.

Breakdown Of Office Leasing Deals

Large deals (over 100,000 sq ft) totaled 12.1 million sq ft. Mid-sized deals (50,000-100,000 sq ft) added 4.4 million sq ft.

Smaller deals (under 50,000 sq ft) accounted for 5.5 million sq ft.

India’s top seven cities recorded 50 million sq ft in net office absorption in 2024. This marks a 29% year-on-year increase from 38.64 million sq ft in 2023, according to Anarock Group.

Bengaluru, Hyderabad, NCR, MMR, and Pune continue to attract multinational corporations.

These cities offer favorable business conditions, lower costs, and a strong talent base.

Market Outlook For 2025

The Indian office market is set for steady growth in 2025.

Companies are adapting workplace strategies to enhance collaboration, innovation, and employee well-being.

Hybrid work models remain popular, but firms are redesigning offices to boost productivity.

As the global technology sector recovers, demand for Grade A office spaces will increase.

India’s GCC office space absorption will stay strong, reinforcing the country’s role as a top destination for corporate expansions.

Also Read: Renewable Energy Sector To See 18.9% Job Growth In FY25: Report

Ajaypal Choudhary

Recent Posts

No Central Water Tax On Farmers; PIB Debunks Fake Social Media Claims

The Ministry of Jal Shakti has refuted viral social media claims suggesting that the Centre…

5 mins ago

‘Kaanta Laga’ Girl Shefali Jariwala Passes Away At 42 In Mumbai

Shefali Jariwala, best known as the ‘Kaanta Laga girl’, has died at the age of…

36 mins ago

UN Chief Urges Immediate Ceasefire In Gaza; Highlights Deepening Humanitarian Crisis

UN Secretary-General Antonio Guterres has called for an immediate ceasefire in Gaza, following the temporary…

57 mins ago

Horoscope Today, 28 June 2025: Know What Your Zodiac Sign Says!

Horoscope Today, 28 June 2025: Curious what the stars have in store? Discover how your…

3 hours ago

4415 Indians Evacuated From Iran And Israel Under ‘Operation Sindhu’: MEA

India evacuated 4,415 nationals from Iran and Israel under Operation Sindhu, the MEA said Friday,…

10 hours ago

PM Modi To Embark On Five-Nation Tour To Strengthen Global Partnerships

PM Narendra Modi will embark on a five-nation tour from July 2, visiting Ghana, Trinidad…

10 hours ago