Surge in Leasing by Global Capability Centres in IndiA: A 17% Rise in FY2023-24
The leasing of office spaces by Global Capability Centres (GCCs) in India has witnessed a significant surge
Global Capability CentresGcc LeasingOffice Space MarketIndiaBengaluruHyderabadDelhi NcrMumbaiPuneReal Estate PuneMay 28, 2024
The report highlights that Bengaluru accounts for around 60% of the total GCC leasing share in January-March 2024, followed by Hyderabad (26%) and Delhi NCR (9%). Mumbai and Pune contributed 4% and 1% each to the total leasing share.
This surge in leasing by GCCs is a testament to the increasing presence of global companies in India, driving the demand for quality office spaces. The growth of GCCs in India is expected to continue, driven by factors such as cost savings, access to skilled talent, and favourable business environment.
Global Capability Centres (GCCs) are centralized units that provide support to global companies in areas such as technology, finance, and human resources. These centres are set up in regions with favourable business environments, skilled talent, and cost savings. India has emerged as a preferred destination for GCCs, with many global companies setting up their centres in the country.
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Frequently Asked Questions
What is the total GCC leasing share in FY2023-24?
The total GCC leasing share in FY2023-24 is 22 5 million square feet
Which city accounts for the highest GCC leasing share?
Bengaluru accounts for around 60% of the total GCC leasing share in January-March 2024
What are the factors driving the growth of GCCs in India?
The growth of GCCs in India is driven by factors such as cost savings access to skilled talent and favourable business environment
What is the contribution of Mumbai and Pune to the total GCC leasing share?
Mumbai and Pune contributed 4% and 1% each to the total GCC leasing share
What is the significance of the surge in GCC leasing in India?
The surge in GCC leasing in India is a testament to the increasing presence of global companies in India driving the demand for quality office spaces
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