Whalesbook
US Firms Lead GCC Leasing Drive
Major US corporations spearheaded the record office space leasing for Global Capability Centres (GCCs) in India during the first quarter. These firms accounted for 73% of the GCC leasing volume, reinforcing India's status as a crucial base for complex international business operations.
Top Cities and Workplace Preferences
Bengaluru emerged as the dominant market, securing 29% of the total office leasing. Delhi-NCR followed with 22%, and Mumbai with 16%. These three major cities together represented approximately 67% of all gross office leasing. Occupiers are increasingly focusing on buildings with green certifications and robust amenities, signalling a preference for sustainable and employee-focused workspaces.
Diverse Sectors and Expanding GCC Footprint
The demand for office space from GCCs is not limited to a few sectors; it spans areas like e-commerce, technology, and Banking, Financial Services, and Insurance (BFSI). The trend also shows a widening base, with mid-market and smaller 'nano' GCCs actively seeking office locations alongside established Fortune 500 companies.
Future Outlook Points to Sustained Growth
Consultants anticipate that the momentum in office leasing will continue through 2026. This forecast is supported by evolving workspace strategies, including the adoption of AI-ready infrastructure and the development of GCCs into multi-functional innovation hubs. This indicates a long-term commitment from global enterprises to leverage India as a strategic operational hub.