Tag: India office space demand

CommercialLatest Stories

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.…

CommercialLatest Stories

India’s Office Space Demand Reaches 48.9M Sq Ft in H1 2025

NEW DELHI: The demand for commercial office space in India hit an all-time high in the first half of 2025, with gross leasing volumes reaching 48.9 million sq ft, reflecting a substantial 41% increase compared to the previous year, according to the latest report by Knight Frank. This remarkable growth was fueled by robust leasing activities in Bengaluru, NCR, and Pune, driven predominantly by Global Capability Centres (GCCs), which accounted for 39% of the total leasing activity. Other significant players included third-party IT services (22%), flexible space operators (21%), and businesses focused on the Indian market (18%). GCCs and IT…