GCCs to Drive Nearly Half of India's Office Leasing by 2026: Report

GCCs may account for nearly half of India's office leasing in 2026: Report

New Delhi, July 25

The report projects GCCs to lease about 30-35 million square feet of office space across the top seven cities this year, accounting for 45-50 per cent of overall office demand. Annual GCC leasing is expected to rise further to 35-40 million square feet in 2027, with their share in total office leasing reaching around 50 per cent.

India's office market has remained resilient, with GCCs strengthening their role in leasing activity. During the first half of 2026, GCCs leased 16.6 million square feet of Grade A office space, accounting for 46 per cent of total office leasing across the top seven cities, the report said.

According to Colliers, the sustained demand is expected to be supported by the continued expansion of multinational companies and India's growing position as a global innovation and enterprise hub.

"The decade ahead presents a transformative opportunity. As the number of GCCs exceeds 4,000 with a market size of USD 105 billion by 2030, India is set to witness sustained demand for high-quality, scalable, and sustainable office spaces," the report said.

The report added that the convergence of skilled talent, operational capabilities and policy support is helping India evolve from an outsourcing destination into a hub for enterprise innovation and decision-making.

Colliers expects the number of GCCs in India to grow to more than 4,000 by 2030, with the market size reaching USD 105 billion and supporting a workforce of around 2.8 million professionals.

As companies continue to expand and diversify their capability centres, GCCs are expected to remain a key source of demand for high-quality office spaces while shaping the next phase of commercial real estate growth, the report added.

— ANI