MNCs Leasing Over 51 Lakh Sq Ft for GCCs in Delhi-NCR: A Real Estate Boom
Multinational corporations (MNCs) have leased nearly 51 lakh square feet of office space in the last two years to set up Global Capability Centers (GCCs) in the Delhi-NCR region. This surge in demand for office space underscores the region's growing impor
MncsGccsDelhincrOffice SpaceReal EstateReal Estate PuneFeb 25, 2025
According to a report by real estate consultant Anarock, this significant leasing activity highlights the region's increasing importance as a hub for global business operations.
Delhi-NCR, along with other major cities such as Mumbai, Bengaluru, Pune, Hyderabad, Chennai, and Kolkata, has emerged as a preferred destination for MNCs looking to expand their operations and tap into the skilled workforce.
The rise in GCCs is driven by the need for cost-effective solutions and access to a pool of talented professionals.
The Global Capability Center model allows MNCs to centralize critical functions such as IT, finance, and operations in a single location, thereby improving efficiency and reducing costs.
This model has gained popularity over the years, particularly in regions with a strong IT and business process management (BPM) ecosystem.
The real estate market in Delhi-NCR has witnessed a significant boost due to the influx of MNCs.
The region's infrastructure, connectivity, and availability of skilled labor make it an attractive option for companies looking to set up GCCs.
The demand for premium office spaces has also led to the development of new commercial zones and the expansion of existing ones.
Anarock's report indicates that the demand for office space in Delhi-NCR is expected to remain robust in the coming years.
Factors such as the ongoing digital transformation, the rise of remote work, and the government's initiatives to promote the ease of doing business are expected to further drive the growth of the real estate market.
The establishment of GCCs in Delhi-NCR not only benefits MNCs but also has a positive impact on the local economy.
It creates job opportunities for the local workforce, boosts the demand for ancillary services, and contributes to the overall economic development of the region.
However, the rapid growth of the real estate market in Delhi-NCR also poses challenges.
The need for sustainable development, infrastructure improvements, and regulatory compliance remains a top priority for developers and policymakers alike.
Ensuring that the growth is inclusive and benefits all stakeholders is crucial for the long-term success of the region.
In conclusion, the leasing of nearly 51 lakh square feet of office space by MNCs to set up GCCs in Delhi-NCR reflects the region's growing importance in the global business landscape.
As the demand for premium office spaces continues to rise, the real estate market is poised for further growth, driven by the favorable business environment and the availability of a skilled workforce.
Frequently Asked Questions
What is a Global Capability Center (GCC)?
A Global Capability Center (GCC) is a centralized facility set up by multinational corporations (MNCs) to handle critical functions such as IT, finance, and operations. GCCs are established to leverage cost advantages and access a skilled workforce.
Why are MNCs setting up GCCs in Delhi-NCR?
MNCs are setting up GCCs in Delhi-NCR due to the region's strong IT and business process management (BPM) ecosystem, favorable business environment, and availability of a skilled workforce. These factors make Delhi-NCR an attractive destination for expanding global operations.
What impact does the establishment of GCCs have on the local economy?
The establishment of GCCs in Delhi-NCR creates job opportunities for the local workforce, boosts demand for ancillary services, and contributes to the overall economic development of the region.
How much office space have MNCs leased in Delhi-NCR in the last two years?
MNCs have leased nearly 51 lakh square feet of office space in the last two years to set up GCCs in the Delhi-NCR region.
What factors are driving the growth of the real estate market in Delhi-NCR?
The growth of the real estate market in Delhi-NCR is driven by factors such as the ongoing digital transformation, the rise of remote work, and the government's initiatives to promote the ease of doing business.
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