GCCs Drive Office Space Demand in Pune's Thriving Professional Ecosystem
Pune: The professional ecosystem in Pune is experiencing a significant boost, thanks to the growing presence of Global Capability Centres (GCCs). According to estimates from Cushman Wakefield, GCCs with captive IT centres have leased 55% of the total office space in the city. This figure is notably higher than the average 40% leasing by GCCs in other major Indian cities.
GCCs setting up offices in Pune are predominantly from the financial services, engineering, healthcare, and IT sectors. These are captive technology centres of foreign companies, contributing to the city's robust professional environment. A report by realty services firm JLL indicates that over 2,000 GCCs now operate in India, occupying around 26 crore square feet of premium office real estate.
Pune has secured a substantial 15-20% share of this total, with GCCs in the city occupying approximately 5 crore square feet of office space. Moinuddin Patel, Pune MD of the realty service provider, highlighted the city's strengths: 'Pune offers a well-established IT base and a mature engineering and manufacturing ecosystem. The proximity to Mumbai and the upcoming Navi Mumbai International Airport further enhance Pune's appeal for global enterprises.'
Close to 90% of all GCC activities in India are concentrated in the top seven metropolitan cities. Bengaluru leads the pack with 40% of total leasing, followed by Hyderabad with around 23%, as per JLL estimates. Anuj Puri, Chairman of Anarock, noted the rapid expansion of India's GCC landscape, driven by increasing demand from key sectors such as IT, ITeS, BFSI, healthcare, life sciences, and engineering research and development.
Despite global uncertainties, the industry remains optimistic about the growth of GCCs in India. By 2030, the number of GCCs operating in the country is expected to reach 2,400, employing around 28 lakh people, according to a joint report by FICCI and Anarock. This projected growth underscores the confidence and potential of Pune and other Indian cities in attracting and retaining these valuable centres.
