Tag: Global Capability Centres

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GCCs to Lease 35-40M Sq Ft Office Space Annually: Report

NEW DELHI: According to a report by Colliers India, global capability centres (GCCs) are projected to lease approximately 35-40 million sq ft of Grade-A office space annually over the next two years. The report indicates that GCCs are expected to represent 45-50% of India’s office space demand in 2026 and 2027. From 2021 onward, GCCs have leased around 118 million sq ft of Grade-A office space across the top seven cities, accounting for 37% of the overall office demand. In H1 2026 alone, GCCs leased 16.6 million sq ft, which comprised 46% of the total uptake of Grade-A office space.…

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Volvo Group Leases 600K Sq Ft Office in Bengaluru

One of the largest transactions in Q2 2026 occurred when the Volvo Group leased 600,000 sq. ft. of office space at Bagmane Capital South in Bengaluru, influenced by geopolitical tensions that have delayed decision-making processes. Bengaluru topped the list for city-wise leasing, holding a 27% share in Q2 2026, while Bengaluru, Pune, and Delhi-NCR together represented 58% of national leasing. “Bengaluru remains India’s premier office market, bolstered by a rich technology workforce, a thriving tech ecosystem, premium office space, and competitive rents. The city accounted for nearly 50% of nationwide pre-commitments this year, indicating occupiers’ readiness to secure top-quality space…

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India Office Leasing Falls 2% to 48M Sq Ft in H1 2026

Representative AI image NEW DELHI: In the first half of 2026, office leasing in India’s top eight cities reached 48 million sq ft, representing a slight two percent decline compared to the previous year, according to Knight Frank India. However, supply additions surged by 35 percent year-on-year, totaling 27.1 million sq ft during this period. The total office stock in these markets increased to 1,054.6 million sq ft, marking a six percent annual growth. Vacancy rates remained relatively stable, dipping slightly by 12 basis points year-on-year to 14.6 percent in H1 2026. Bengaluru led the office leasing market with 14.1…

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Bengaluru Office Leasing Drops 23% to 14.1M Sq Ft in H1 2026

NEW DELHI: In the first half of 2026, Bengaluru reported office transactions totaling 14.1 million sq ft, reflecting a 23% drop year-on-year, as per a Knight Frank India report. This decrease is attributed to a high benchmark set in H1 2025, which included 8.3 million sq ft of pre-commitment transactions. Notably, excluding these pre-commitments, Bengaluru achieved its highest half-yearly leasing volume, the report highlighted. Office completions surged by 407% from the previous year, reaching 10.4 million sq ft in H1 2026 as numerous large-scale projects that faced delays were finally completed. The total office inventory in Bengaluru increased to 254…

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GCCs Drive Bengaluru Office Market: Focus on Experience-Led Workplaces

BENGALURU: The commercial real estate market in Bengaluru is entering a more advanced stage, driven by factors such as office absorption quality, employee experience, sustainability, and tech-oriented asset management, industry experts noted on Tuesday. The insights were shared during the RealtyDailyNews Realty & Beyond Summit Bengaluru, focusing on the future dynamics of the city’s commercial real estate sector. The panel featured Shirish Godbole, CEO of Knowledge Realty Trust; Hugh Andrew, CEO of Bagmane Prime Office REIT; Sanjay Gulati, Co-Managing Director & Principal at Gensler; Chirag Boonlia, Chief Technology Officer of Embassy Group; and Gaurav Bhatia, EVP – Asset Management at…

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India Office Leasing Up 10% to 21.6M Sq Ft in Q1 2026

NEW DELHI: India’s office market achieved a gross absorption of 21.6 million sq ft across six major cities in the January-March quarter of 2026, reflecting a 10% year-on-year increase, as reported by Savills India. This growth comes against a backdrop of global economic uncertainties. The quarter also saw a 28% year-on-year decline in new supply, totaling 7.9 million sq ft, which contributed to a decrease in overall vacancy rates to 13.9% amid consistent leasing activity. The robust beginning of the year positions the total office demand for 2026 at an estimated 75 million sq ft, while supply is anticipated to…

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GCC Leasing Reaches Record 9.1M Sq Ft in Q1 2026

NEW DELHI: India’s office market achieved its best first quarter ever, with gross leasing reaching approximately 20.7 million sq ft in Q1 2026, a 5% increase year-on-year. This growth was primarily fueled by unprecedented demand from Global Capability Centres (GCCs), as reported by CBRE. During this quarter, GCCs occupied 9.1 million sq ft, representing 44% of the total office leasing. Bengaluru and Hyderabad emerged as leading GCC hubs, contributing 48% and 19% of the demand, respectively, while Delhi-NCR accounted for 14%. Bengaluru continued to lead in office leasing with a 29% share, followed by Delhi-NCR at 22% and Mumbai at…

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Apple Expands Hyderabad Office to 6.3 Lakh Sq Ft at WaveRock

BENGALURU: Apple India has signed a new office lease for over 65,000 square feet at the WaveRock IT campus in Hyderabad’s Financial District. This brings its total area in the Xander-owned property to nearly 630,000 square feet, according to documents obtained by the publication. The recent lease covers 65,168 square feet and was finalized earlier this week between Apple India Private Limited and TSI Business Parks (Hyderabad) Private Limited, the landlord of WaveRock. This follows a previous lease of 64,125 square feet signed in July 2025, resulting in an overall expansion of approximately 130,000 square feet for Apple in 2025.…

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GCCs to Drive 45% of Office Space Absorption in 2025

NEW DELHI: In 2025, Global Capability Centres (GCCs) became the primary demand driver in India’s office sector, representing 45% of total leasing, up from 41% the previous year, as per a report by Vestian. Office spaces occupied by GCCs increased to 34.9 million sq ft in 2025, reflecting a 20% year-on-year growth. This surge was fueled by robust demand from GCCs, bolstered by favorable policy conditions in India and tightened work visa regulations in key international markets. Consequently, overall office absorption in India reached a record 78.2 million sq ft, an 11% increase compared to 2024, despite global economic and…

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UP Announces Subsidy Guidelines to Attract GCCs

LUCKNOW: The Yogi Adityanath government aims to position Uttar Pradesh as a prime destination for Global Capability Centres (GCCs) by announcing comprehensive standard operating procedures (SOPs). These SOPs, recently approved by the state cabinet, outline regional incentives to promote balanced industrial growth across the state. Under this initiative, GCCs establishing operations in Gautam Budh Nagar and Ghaziabad can benefit from a 30% land subsidy on purchases from government agencies. In other parts of Paschimanchal (excluding the aforementioned areas) and the Madhyanchal region, a 40% subsidy is available. To encourage investment in less developed regions, the state offers subsidies of up…