GCCs to lease 45-50 msf of Grade A office space by 2025
Real Estate

GCCs to lease 45-50 msf of Grade A office space by 2025

ver the next two years, Global Capability Centers (GCCs) are expected to lease about 45-50 million square feet of office space, accounting for approximately 40% of the total office demand across the top 6 cities. Improved business sentiments and positive economic outlook is fostering heightened demand of office spaces in India, particularly signaling confidence among foreign origin companies seeking to establish their capability centers in the country. Interestingly, despite a weaker global outlook amidst pandemic and geopolitical tensions in the last 2-3 years, GCCs resumed their expansions in a steadfast manner, registering a 14% YoY rise in leasing activity in 2023. The second half of 2023 particularly witnessed the highest GCC leasing activity since 2020, reaching 12.4 million square feet, according to Colliers' latest report, titled "Global Capability Centers in India: A newfound wave of confidence". The report highlights the pivotal role GCCs will continue to play in shaping India's commercial real estate landscape in near future. Driven by cost-effective offerings and a talent-rich environment, foreign companies will continue their expansions in India, further bolstering GCC demand in near to mid-term.

?With heightened GCC activity and sustained domestic demand, the outlook for India's office market is indeed optimistic. Drawing confidence from India's economic resilience, GCCs have swiftly resumed leasing activities, and are poised to play a pivotal role, contributing to over 40% of the total office demand in the next 1-2 years. As Technology and BFSI sectors maintain their dominance, growing interest of occupiers from Engineering & manufacturing and Healthcare sectors promise to diversify the GCC landscape further. Moreover, GCCs are steadily adopting flex spaces, with approximately 5-10% of flex seats currently being utilized by GCC occupiers, indicating a shift towards more agile workspace solutions." says Arpit Mehrotra, Managing Director, Office Services, Colliers India.

Redefine the future of urban mobility! Join us at the Metro Rail Conference 2025 to explore groundbreaking ideas and insights. 👉 Register today!

ver the next two years, Global Capability Centers (GCCs) are expected to lease about 45-50 million square feet of office space, accounting for approximately 40% of the total office demand across the top 6 cities. Improved business sentiments and positive economic outlook is fostering heightened demand of office spaces in India, particularly signaling confidence among foreign origin companies seeking to establish their capability centers in the country. Interestingly, despite a weaker global outlook amidst pandemic and geopolitical tensions in the last 2-3 years, GCCs resumed their expansions in a steadfast manner, registering a 14% YoY rise in leasing activity in 2023. The second half of 2023 particularly witnessed the highest GCC leasing activity since 2020, reaching 12.4 million square feet, according to Colliers' latest report, titled Global Capability Centers in India: A newfound wave of confidence. The report highlights the pivotal role GCCs will continue to play in shaping India's commercial real estate landscape in near future. Driven by cost-effective offerings and a talent-rich environment, foreign companies will continue their expansions in India, further bolstering GCC demand in near to mid-term. ?With heightened GCC activity and sustained domestic demand, the outlook for India's office market is indeed optimistic. Drawing confidence from India's economic resilience, GCCs have swiftly resumed leasing activities, and are poised to play a pivotal role, contributing to over 40% of the total office demand in the next 1-2 years. As Technology and BFSI sectors maintain their dominance, growing interest of occupiers from Engineering & manufacturing and Healthcare sectors promise to diversify the GCC landscape further. Moreover, GCCs are steadily adopting flex spaces, with approximately 5-10% of flex seats currently being utilized by GCC occupiers, indicating a shift towards more agile workspace solutions. says Arpit Mehrotra, Managing Director, Office Services, Colliers India.

Next Story
Real Estate

Colliers India Transacts 207,000 sq ft office space at Embassy TechVillage

Embassy Office Parks REIT, India’s first listed REIT and the largest office REIT in Asia by area, announced that it has signed an Agreement to Lease (‘ATL’) with global cyber security company Rubrik at Embassy TechVillage in Bengaluru.Colliers, a leading global diversified professional services company, specialising in commercial real estate services, engineering consultancy and investment management facilitated the transaction for Rubrik.Located on Bengaluru’s Outer Ring Road, Embassy TechVillage is one of Embassy REIT’s flagship office parks which offers world-class office spaces, ..

Next Story
Infrastructure Urban

Ensemble Infrastructure India Appoints Suman Saha as Director of Design

Ensemble Infrastructure India Ltd, a leading workplace design and build fit-out company, has appointed Suman Saha as its new Director of Design. With 25 years of experience in the industry, Suman is recognized for his innovative approach and excellence in design leadership.Working closely with the CEO, Suman’s appointment will enhance the company’s design communication across multiple touchpoints, ensuring smooth collaboration between clients, designers, and execution teams for superior project outcomes. Under his guidance, Ensemble will focus on creating workspaces and design labs that em..

Next Story
Products

Ribbon Vanity by Küche7: Fluid Design Meets Everyday Elegance

Küche7, pioneers in luxury stainless steel kitchens, have unveiled the Ribbon Vanity, a graceful creation that transforms bathroom spaces with its soft, flowing design and understated sophistication. Inspired by the fluid form of a ribbon, this vanity combines smooth finishes, clean lines, and gentle curves, offering a timeless aesthetic that seamlessly complements diverse interior styles.Available in a refined blush pink hue, the Ribbon Vanity effortlessly merges functionality with elegance. With thoughtfully designed storage options, it ensures that bathroom essentials are neatly organised ..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000