India Sees 329 GCC Leasing Deals in 2024; Bengaluru, Hyderabad, Chennai Lead
India has emerged as a preferred destination for Gulf Cooperation Council (GCC) companies, recording 329 leasing deals in 2024. The cities of Bengaluru, Hyderabad, and Chennai are leading the way with their cost-effective real estate, skilled workforce, a
Gcc LeasingReal EstateIndiaEconomic GrowthGovernment InitiativesReal Estate MaharashtraFeb 14, 2025
This trend underscores India's growing appeal as a business hub for GCC firms, driven by several factors including affordable real estate, a highly skilled workforce, and proactive government policies.
Bengaluru, Hyderabad, and Chennai have emerged as the frontrunners in attracting these GCC investments.
Known for their robust IT and service sectors, these cities offer a conducive environment for GCC companies looking to expand their footprint in India.
Information
India's real estate market has been steadily growing, making it an attractive destination for international investors.
The country's large pool of skilled professionals and relatively low operating costs are key drivers of this growth.
The Indian government's initiatives, such as 'Make in India' and 'Digital India,' have further bolstered the country's appeal.
City-wise Analysis
- Bengaluru The 'Silicon Valley of India' has long been a favorite among tech companies.
Its thriving ecosystem of startups, established tech giants, and a vibrant talent pool make it an ideal choice for GCC firms.
In 2024, Bengaluru accounted for a significant portion of the leasing deals, primarily in the IT and service sectors.
- Hyderabad Known for its diverse economy, Hyderabad has a strong presence in IT, pharmaceuticals, and manufacturing.
The city's twin IT hubs, Hitec City and Gachibowli, have attracted numerous GCC companies looking to tap into the local talent and infrastructure.
- Chennai With a robust manufacturing and automotive industry, Chennai has also seen a rise in GCC leasing deals.
The city's strategic location and well-developed logistics infrastructure make it an attractive option for companies looking to optimize their supply chains.
Impact of Government Initiatives
The Indian government's efforts to improve the business environment have played a crucial role in attracting GCC investments.
Programs like 'Ease of Doing Business' and 'Start-up India' have simplified the regulatory landscape, making it easier for foreign companies to set up and operate in India.
Future Outlook
The future looks promising for India's real estate and business landscape.
With continued government support and the ongoing development of infrastructure, the country is poised to attract even more GCC investments in the coming years.
The growing demand for office spaces, especially in tech and service sectors, is expected to drive further leasing activities.
Knight Frank is a leading global property consultant, providing a comprehensive range of services in residential, commercial, and industrial real estate.
With a presence in over 500 locations across 59 countries, Knight Frank offers expert advice and solutions to clients worldwide, helping them navigate the complex real estate market.
Frequently Asked Questions
What is the total number of GCC leasing deals recorded in India in 2024?
In 2024, India recorded 329 GCC leasing deals.
Which cities in India are leading in GCC leasing activities?
Bengaluru, Hyderabad, and Chennai are the leading cities in GCC leasing activities.
What factors contribute to India's growing attractiveness for GCC companies?
India's growing attractiveness for GCC companies is due to cost-effective real estate, a skilled workforce, and supportive government initiatives.
What government initiatives have bolstered India's appeal to GCC firms?
Government initiatives such as 'Make in India,' 'Digital India,' 'Ease of Doing Business,' and 'Start-up India' have bolstered India's appeal to GCC firms.
What is the future outlook for India's real estate and business landscape?
The future outlook for India's real estate and business landscape is promising, with continued government support and infrastructure development expected to attract more GCC investments.
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