GCCs account for 43% of office leasing as multinational expansion continues: Report
New Delhi, July 26
Global Capability Centres accounted for 43 per cent of total office leasing in India during the first half of 2026, with multinational companies continuing to expand their presence and drive demand for premium Grade A office spaces across major commercial hubs, according to an Equirus Real Estate Sector Trends - July 2026 presentation.
The presentation said GCCs remained the primary demand driver in India's office market, with the number of GCC transactions increasing by around 30 per cent year-on-year.
"Global Capability Centres accounted for 43% of total office leasing during H1 2026, with the number of GCC transactions increasing by approximately 30% YoY. Expansion by multinational companies continues to support demand for premium Grade A office assets across India's major commercial hubs," the presentation said.
According to Equirus, GCCs also accounted for 53 per cent of large office transactions during the first half of the year, reinforcing their role as the biggest occupier segment in the country's commercial real estate market.
The presentation noted that India's office market continued to witness strong occupier demand overall. It said office leasing reached 45.5 million square feet in H1 2026, the highest-ever absorption recorded for a six-month period, while leasing grew 9.6 per cent year-on-year. Quarter-wise, office absorption stood at 24.6 million square feet in Q2 2026.
Highlighting the broader market outlook, Equirus said, "India's office market is witnessing sustained demand, driven by GCC expansion, institutional capital and premium Grade A assets."
The presentation also said new office supply remained healthy, with 32 million square feet added during H1 2026, up 14 per cent year-on-year, providing adequate inventory to support future demand.
On occupier preferences, Equirus said businesses increasingly favoured high-quality, sustainable office spaces. It noted that 76 per cent of new office supply was green-certified, 73 per cent of leasing took place in green assets, and 70 per cent of leasing occurred in buildings less than 10 years old.
Summing up the trend, the presentation said, "India's office market has evolved into a large-scale institutional asset class, with record leasing, sustained GCC expansion and growing preference for premium, ESG-compliant office assets."
— ANI
Reader Comments
While this growth is impressive, we must ensure that the benefits reach Tier 2 and Tier 3 cities as well. Most GCC activity is concentrated in Bengaluru, Hyderabad, and Pune. The government should incentivize companies to set up in smaller cities to reduce regional imbalance.
45.5 million sq ft leasing in just six months? That's mind-blowing! My friend just joined a new GCC in Bangalore and she's loving the work culture. These centres are really putting India on the global map for innovation. Way to go! 👏
I work in one of these GCCs and the growth is real. But the rental costs in prime locations are skyrocketing. Small businesses can barely afford office space anymore. We need more balanced development across all sectors.
The emphasis on green-certified buildings is very encouraging! 76% of new supply being green certified shows India is serious about ESG compliance. This will help attract even more international investment. 🌿
Good to see institutional capital driving this growth. However, I hope the government doesn't overlook the IT/ITeS sector's needs in terms of infrastructure - better roads, reliable power, and affordable housing near these hubs are still challenges.
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