Global capability centres (GCCs) increased their space usage by 17% in FY 2023-24, reaching 22.5 million sq ft, driven by engineering, BFSI, and technology sectors, according to CBRE. GCCs are a key driver in India s office sector, projected to lease 40-45 million sq ft by 2025, with India hosting over 1,900 GCCs.
Around 60 percent of the total GCC leasing share in January-March 2024 was in Bengaluru followed by Hyderabad (26 percent) and Delhi NCR (9 percent). Mumbai and Pune contributed 4 percent and 1 percent each.
Get latest articles and stories on Business at LatestLY. According to the press release, this growth, recorded from April 2023 to March 2024, was largely driven by the Engineering and Manufacturing (E&M), Banking, Financial Services and Insurance (BFSI), and technology sectors. Business News | Leasing by GCC in India Surge Approx. 17 Pc YoY, Recording 22.5 Mn. Sq. Ft. in FY 2023-24.
Leasing by GCC in India surge approx 17 pc YoY, recording 22 5 mn sq ft in FY 2023-24 aninews.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from aninews.in Daily Mail and Mail on Sunday newspapers.
CBRE South Asia Pvt. Ltd. recently released its ‘2024 India Market Outlook’ report, which sheds light on key trends and projections for the Indian real estate sector. One of the significant findings of the report is the expected firmness of retail leasing in 2024, along with the stable supply environment in the sector.