Leasing by Global Capability Centres in India increases by 17%; touches 22.5 mn sq ft in FY 2023-24
6 months, 3 weeks ago

Leasing by Global Capability Centres in India increases by 17%; touches 22.5 mn sq ft in FY 2023-24

Hindustan Times  

Leasing by Global Capability Centres increased by around 17% Y-o-Y in FY 2023-24 compared to FY 2022-23, touching 22.5 mn sq ft in FY 2023-24 as compared to 19.2 mn sq ft in FY 2022-23. Leasing by Global Capability Centres increased by around 17% Y-o-Y in FY 2023-24 compared to FY 2022-23 touching 22.5 mn sq ft in FY 2023-24 as compared to 19.2 mn sq ft in FY 2022-23. Bengaluru tops the list of Global Capability Centres’ leasing in India with a share of 60% followed by Hyderabad at 26% and Delhi at 9%, a CBRE report has said, adding Mumbai contributed 4% share and Pune 1%. With 1.3 mn talent as of 2019, the sector saw a 30–35% share of total office leasing in India in 2017-2019 period with over 1250 operational GCCs.

Global India Capability Cbre Leasing Gccs Centres Global Capability Centres Total Office  total  office  global  ft  centres  mn  increases  india  touches  sq  fy  capability  gccs  leasing

History of this topic

Year-ender 2024: Office space leasing expected to touch 85 million square feet this year
1 week ago

Year-ender 2024: Office space leasing expected to touch 85 million square feet this year

Hindustan Times  

The year 2024 is likely to register 83-85 mn sq ft of gross leasing of office space across eight major cities, which will be an almost 13% increase compared to the peak volume of 2023, a report by Cushman and Wakefield said. Since 2022, India’s office real estate has consistently witnessed more than 70 million square feet of gross leasing …

Gross leasing of office space set to rise 14 pc in 2024 to record 85 mn sq ft: Cushman & Wakefield
Trending News
1 week ago

Gross leasing of office space set to rise 14 pc in 2024 to record 85 mn sq ft: Cushman & Wakefield

Live Mint  

New Delhi, Dec 16 Gross leasing of office space across eight major cities is likely to rise 14 per cent to touch a record 85 million square feet this calendar year, according to Cushman & Wakefield. The gross leasing of office space stood at 74.6 million square feet in 2023 across eight cities -- Bengaluru, Hyderabad, Mumbai, Delhi-NCR, Chennai, Pune, …

Office leasing by Global Capability Centres in Chennai to touch 3.2 mn sq ft by 2025: CBRE
3 weeks, 5 days ago

Office leasing by Global Capability Centres in Chennai to touch 3.2 mn sq ft by 2025: CBRE

Hindustan Times  

Office leasing by Global Capability Centres in Chennai is expected to touch 3.2 mn sq ft by 2025 on the back of growing infrastructure, proactive state government policies, and quality office developments that are aligned to meet the needs of global corporates, a report by CBRE has said. Office leasing by Global Capability Centres in Chennai is expected to touch …

Chennai emerging as preferred hub for Global Corporates; city hosts 11 per cent of India’s GCC talent, says report
3 weeks, 6 days ago

Chennai emerging as preferred hub for Global Corporates; city hosts 11 per cent of India’s GCC talent, says report

New Indian Express  

CHENNAI: Chennai is poised to add 12–13 million square feet of premium office space between 2025 and 2026, according to a report titled ‘Tamil Nadu: The Next Frontier for Global Corporations’ by CBRE. The report highlights Chennai’s solidified position as a preferred hub for global corporates, accounting for 11% of India’s current Global Capability Centre talent. Ranked third in GCC …

ANZ renews office space lease in Bengaluru for four years at a rent of ₹6 crore per month
1 month ago

ANZ renews office space lease in Bengaluru for four years at a rent of ₹6 crore per month

Hindustan Times  

ANZ Support Services India Private Limited has renewed its lease for a 6 lakh sq ft office space spread across 18 floors in Embassy Manyata Business Park in Bengaluru for four years at a monthly rent of ₹5.94 crore, documents accessed by Propstack showed. ANZ Support Services India Private Limited has renewed its lease for a 6 lakh sq ft …

Retail leasing touches 1.6 mn sq ft in the third quarter of 2024; High street rentals see growth of 15% YoY in Q3 2024
1 month, 2 weeks ago

Retail leasing touches 1.6 mn sq ft in the third quarter of 2024; High street rentals see growth of 15% YoY in Q3 2024

Hindustan Times  

Retail leasing of 1.6 mn sq ft was recorded in the third quarter of 2024 with Hyderabad, Delhi NCR, and Mumbai leading the volume. According to the Cushman & Wakefield Q3-2024 Retail MarketBeat Report, high streets dominated the leasing landscape, accounting for a 68% of the total 1.6 million square feet leased this quarter, with Hyderabad, Delhi-NCR, and Chennai accounting …

GCCs Dominate Indian Coworking Market, with Bengaluru Leading the Charge
1 month, 3 weeks ago

GCCs Dominate Indian Coworking Market, with Bengaluru Leading the Charge

Hindustan Times  

Global capability centres (GCCs) leased nearly 23,000 coworking desks between January - September period in India. The resurgence in flex seat occupancy is linked to slower economic growth in the US, prompting companies to leverage India's cost advantages and talent pool, boosting demand for flexible workspaces.

Office leasing up 31% annually to 17.3 mn sq ft across top six cities in Q3 2024; Bengaluru and Hyderabad drive demand
2 months, 3 weeks ago

Office leasing up 31% annually to 17.3 mn sq ft across top six cities in Q3 2024; Bengaluru and Hyderabad drive demand

Hindustan Times  

The July-September quarter of 2024 recorded a 31% year-on-year growth in office leasing, pushing the tally to 17.3 million square feet across the top six cities, a report by property consultancy Colliers said on September 26. Office leasing up 31% annually to 17.3 mn sq ft across top six cities in Q3 2024; Bengaluru and Hyderabad drive demand Bengaluru and …

Domestic firms projected to lease 60-65 mn sq ft of office space in 2024-25: Report
3 months ago

Domestic firms projected to lease 60-65 mn sq ft of office space in 2024-25: Report

Hindustan Times  

Reflecting a shifting trend in India’s commercial real estate segment, domestic firms are expected to lease 60-65 million square feet of office space in 2024-25, thus challenging the historical dominance of global corporations, particularly from the US, a report by property consultancy CBRE noted. Domestic firms are projected to lease 60-65 million square feet of office in 2024-25 The report …

Goldman Sachs (India) Securities Pvt Ltd leases more than 73000 sq ft office space for over 2 crore per month
3 months, 1 week ago

Goldman Sachs (India) Securities Pvt Ltd leases more than 73000 sq ft office space for over 2 crore per month

Hindustan Times  

Goldman Sachs Securities Pvt Ltd has leased more than 73000 sq ft office space for over ₹2 crore per month for 10 years in K Raheja Pvt Ltd’s Acentia project in Worli, Mumbai, documents accessed by CREMatrix showed. Goldman Sachs Securities Pvt Ltd has leased more than 73000 sq ft of office space for more than ₹ 2 crore per …

Bengaluru leads in large office space leasing, transaction volumes touch 4.5 mn sq ft in H1 2024
3 months, 1 week ago

Bengaluru leads in large office space leasing, transaction volumes touch 4.5 mn sq ft in H1 2024

Hindustan Times  

Transactions for office spaces above 100,000 sq ft recorded a substantial YoY growth of 54% in the first half of calendar year 2024 from 10.18 mn sq ft in H1 2023 to 15.69 mn sq ft in H1 2024. Bengaluru’s large office spaces contributed 53% to the city’s total commercial transaction volumes, amounting to 4.5 million sq ft followed by …

Bengaluru leads leasing by Global Capability Centres in India with 40% share between 2022 to H1 2024: Report
4 months, 2 weeks ago

Bengaluru leads leasing by Global Capability Centres in India with 40% share between 2022 to H1 2024: Report

Hindustan Times  

Bengaluru led leasing by Global capability centres in India between 2022 to H1 2024 with a 40% share, according to a CBRE- Zyoin report released on August 5. Bengaluru leads leasing by Global Capability Centres in India with 40% share between 2022- H1 2024 According to the report, GCCs leased nearly 53 million square feet of office space across the …

Bengaluru leads office space absorption by global capability centers in India at 4.3 mn sq ft: Report
4 months, 3 weeks ago

Bengaluru leads office space absorption by global capability centers in India at 4.3 mn sq ft: Report

Hindustan Times  

Bengaluru accounts for the highest office space absorption by global capability centers in India at 4.3 million square feet, according to a Knight Frank India - 3AI report released on July 26. Bengaluru leads office space absorption by global capability centres in India Bengaluru is the top choice for platform engineering and constitutes the highest IT/ITeS GCC led office absorption …

GCCs to Generate $121 Billion by 2030: Survey
5 months ago

GCCs to Generate $121 Billion by 2030: Survey

Deccan Chronicle  

Chennai: Global capability centres are estimated to generate a total revenue of $121 billion by 2030, roughly 3.5 per cent of India’s GDP. GCCs presently employ 32 lakh people, primarily engineers and scientists and generated a combined revenue of $46 billion in 2023 and are estimated to generate a total revenue of $121 billion by 2030, roughly 3.5 per cent …

Office market touches 34.7 mn sq ft transactions in H1 2024; may double by year end on the back of demand from IT firms
5 months, 2 weeks ago

Office market touches 34.7 mn sq ft transactions in H1 2024; may double by year end on the back of demand from IT firms

Hindustan Times  

Office space market across the top eight cities in India recorded its highest ever transaction volume in a half yearly period at 34.7 million square feet in H1 2024. Vacancy rate reduced to 15.6% The office market witnessed 25.1 mn sq ft of space completions in H1 2024. Though GCC recorded a mark-up in its share, India Facing Business continued …

Office leasing across top 9 cities touches 32.8 mn sq ft in Jan-June; Bengaluru leads office leasing at 8.5 mn sq ft
5 months, 2 weeks ago

Office leasing across top 9 cities touches 32.8 mn sq ft in Jan-June; Bengaluru leads office leasing at 8.5 mn sq ft

Hindustan Times  

Office leasing touched 32.8 mn sq ft during January to June period, recording an increase of 14% year-on-year across nine cities, a report by CBRE South Asia Pvt. ft. during January to June period, recording an increase of 14% year-on-year across nine cities, a report by CBRE Bengaluru led office space absorption, accounting for about one-fourth of the total leasing …

Office leasing touches 33.5 mn sq ft in the first half of the year, up by 29%: JLL
5 months, 2 weeks ago

Office leasing touches 33.5 mn sq ft in the first half of the year, up by 29%: JLL

Hindustan Times  

Office leasing was up by 29% to touch 33.5 mn sq ft in the first half of the year. Office leasing touches 33.5 mn sq ft in the first half of the year, up by 29%: JLL Office demand across seven major cities hit an all-time high in the first half of this calendar year with gross leasing of 33.54 …

Flexible space provider Incuspaze leases 5.8 lakh square feet space in Gurugram
5 months, 3 weeks ago

Flexible space provider Incuspaze leases 5.8 lakh square feet space in Gurugram

Hindustan Times  

In response to rising demand from corporate occupiers, flexible workspace provider Incuspaze has leased 5.8 lakh square feet of office space in Gurugram, the company said in a statement on July 1. Coworking firm Incuspaze leases 5.8 lakh square feet space in Gurugram “Incuspaze expansion marks a significant step in our growth strategy, allowing us to better serve our clients …

Office leasing records 16.7 mn sq ft in Q1 2024, witnessing a 20% growth y-o-y
7 months, 4 weeks ago

Office leasing records 16.7 mn sq ft in Q1 2024, witnessing a 20% growth y-o-y

Hindustan Times  

Despite global uncertainties stemming from uneven economic scenarios and geopolitical tensions, the first quarter of 2024 witnessed office leasing activity of 16.7 mn sq. ft in India, a 20% increase year-on-year even as office space absorption across India’s six major cities is likely to register around 61 mn sq ft in 2024, according to international real estate advisory firm Savills …

World Earth Day 2024: More than half of India’s A Grade office stock is now sustainable
8 months ago

World Earth Day 2024: More than half of India’s A Grade office stock is now sustainable

Hindustan Times  

Sustainability has now been incorporated into the boardroom agenda. Almost 56% percent of India’s Grade A office stock spanning 815 mn sq ft is now green. World Earth Day 2024: Almost 56% percent of India’s Grade A office stock spanning 815 mn sq ft is now green, a report has said The total office space leased over the last two …

Global capability centres and third-party IT service providers lease over 46% of office space in India
8 months ago

Global capability centres and third-party IT service providers lease over 46% of office space in India

Hindustan Times  

Global firms outsourcing jobs to India have become a major occupier of office space in India with global capability centres and third-party IT service providers contributing to over 46% of office leasing in 2023, a report by Knight Frank titled Asia Pacific Horizon: Harnessing the Potential of Offshoring, has said. Global firms outsourcing jobs to India have become a major …

Brigade Group signs joint development agreement for office space in Bengaluru worth ₹340 crore
8 months, 2 weeks ago

Brigade Group signs joint development agreement for office space in Bengaluru worth ₹340 crore

Hindustan Times  

Brigade Enterprises Limited has signed a Joint Development Agreement with United Oxygen Company Private Limited to develop an office space in Bengaluru worth ₹340 crore. Brigade Enterprises Limited has signed a Joint Development Agreement with United Oxygen Company Private Limited to develop an office space in Bengaluru worth ₹ 340 crore. Director of United Oxygen Company Private Limited, Ashwin Poorswani …

Office market net absorption in Q1 2024 at 11.5 mn sq ft across top 8 cities
8 months, 3 weeks ago

Office market net absorption in Q1 2024 at 11.5 mn sq ft across top 8 cities

Hindustan Times  

Despite global headwinds, the Indian office market continues its positive trajectory, registering a net absorption of 11.5 mn sq ft across top eight cities in Q1 2024, according to Cushman & Wakefield’s Q1 office data. A significant contribution to Bengaluru’s healthy leasing volume was 4.8 mn sq ft of fresh leasing activity, and the city accounted for 33% of total …

Share of GCCs in office transactions in Chennai increases by 55% in 2023
8 months, 3 weeks ago

Share of GCCs in office transactions in Chennai increases by 55% in 2023

Hindustan Times  

Global Capacity Centres focused transactions dominated more than half of the office volume deals in Chennai during 2023, totalling 6.02 mn sq ft across 71 deals, a report by Knight Frank India said. Global Capacity Centres focused transactions dominated more than half of the office volume transactions in Chennai during 2023 The Banking, Financial Services, and Insurance segment is the …

Leasing demand for manufacturing space up; expected to touch around 16 million sq ft by 2024: JLL
9 months, 1 week ago

Leasing demand for manufacturing space up; expected to touch around 16 million sq ft by 2024: JLL

Hindustan Times  

Leasing demand for manufacturing space has increased and is projected to touch approximately 16 million sq ft by the end of 2024, JLL India said in a report. Leasing demand for manufacturing real estate space has increased and is projected to touch approximately 16 million sq ft by the end of 2024, JLL India said in a report. In its …

Logistics and industrial leasing crosses 50 mn sq ft mark in the last two years
10 months ago

Logistics and industrial leasing crosses 50 mn sq ft mark in the last two years

Hindustan Times  

Logistics and industrial leasing in India has crossed the 50 m sq ft mark in the last two years on the back of strong economic and industry fundamentals, rapidly growing sectors like manufacturing and third party logistics, and supportive government policies like the Production Linked Incentive scheme, a report by Cushman & Wakefield has said. Logistics and industrial leasing in …

Industrial & Logistics leasing in MMR touches high of 9.9 mn sq ft: report
11 months ago

Industrial & Logistics leasing in MMR touches high of 9.9 mn sq ft: report

Hindustan Times  

Mumbai: The Mumbai Metropolitan Region touched an all-time high of 9.9 million square feet in Industrial & Logistics leasing in 2023, with the July-December half of this year contributing 5.3 million square feet, said the findings of ‘CBRE Industrial & Logistics Figures H2 2023’, a report by leading real estate consulting firm CBRE South Asia Pvt Ltd. HT Image Third-party …

Share of green office leasing touches 16% in 2022-2023; Global Capability Centres account for 76% of overall leases
11 months ago

Share of green office leasing touches 16% in 2022-2023; Global Capability Centres account for 76% of overall leases

Hindustan Times  

The share of green office leasing in India has touched 16 percent in 2022-2023 with global office occupiers, especially Global Capabilities Centres, and institutional landlords being at the forefront of sustainable practices. The share of green leasing in India has touched 16 percent in 2022-2023 with global office occupiers, especially Global Capabilities Centres, and institutional landlords being at the forefront …

Office space demand up 15% in top 8 cities; Bengaluru sees 14% fall in leasing: Report
11 months, 2 weeks ago

Office space demand up 15% in top 8 cities; Bengaluru sees 14% fall in leasing: Report

Hindustan Times  

Leasing of office space rose by 15 per cent across eight major cities last year, despite a decline in demand in Bengaluru, the largest workspace market, according to Knight Frank. Data showed that office demand grew 15 per cent annually to 59.6 million square feet in 2023, despite global economic and geopolitical concerns. The data showed that office demand grew …

Unravelling opportunities
1 year, 1 month ago

Unravelling opportunities

The Hindu  

A joint industry report by CREDAI and CRE Matrix stated that high-quality office space in India’s top six cities had already surpassed 700 million sq.ft. As per a study by NASSCOM, operating costs of offices in tier-2 cities in the U.S. are as high as seven times the cost in Bengaluru, India’s largest office market. Lastly, India’s share of the …

Real Estate: Office Space Absorption Rises 16% QoQ to 14 million Sqft in January-March 2023, Says Report
1 year, 7 months ago

Real Estate: Office Space Absorption Rises 16% QoQ to 14 million Sqft in January-March 2023, Says Report

News 18  

Office space absorption in India’s six major cities rose 16 per cent QoQ to 14 million sqft in the first quarter of 2023. However, the YoY gross absorption comparison indicates an 11 per cent decline owing to global economic pressures, according to the latest report by international real estate advisory firm Savills India. Additionally, the office space witnessed a 23 …

Industrial, logistics sector leasing seen at 32-35 mn sq ft in 2023: Report
1 year, 8 months ago

Industrial, logistics sector leasing seen at 32-35 mn sq ft in 2023: Report

Live Mint  

New Delhi: The growth rate for industrial and logistics portfolio leasing is likely to slow down to 32-35 million square feet in 2023 due to global headwinds, according to a report by CBRE. The global real estate consultant’s ‘2023 India Market Outlook’ report said that the I&L supply forecast is expected to exceed 2022 levels and touch 24-26 mn sq …

2022: the year that was
2 years ago

2022: the year that was

The Hindu  

After the initial COVID-19 pandemic wave and the ensuing enforced lockdowns, India’s residential market has been expanding at a breakneck rate. “The Indian real estate sector witnessed one of its most extensive turnaround years this year, something that hasn’t happened in the past 10 years.”Abhishek KapoorCEO, Puravankara Ltd., Bengaluru The phenomena in the year 2022 were undeniably conducive to the …

Bengaluru tops in Asia Pacific region in flexible office space stock; Hyderabad 7th
2 years ago

Bengaluru tops in Asia Pacific region in flexible office space stock; Hyderabad 7th

Deccan Chronicle  

New Delhi: Bengaluru has the highest supply of premium flexible office space in Asia Pacific region at 10.6 million square feet, according to CBRE. As of September 2022, Bengaluru recorded 10.6 million square feet flexible stock, the highest among all major APAC cities, including Shanghai, Beijing, Seoul, Tokyo and Singapore. Out of the total premium flexible office space in Hyderabad, …

Bengaluru may see highest growth in office rent in Asia-Pacific region next year
2 years ago

Bengaluru may see highest growth in office rent in Asia-Pacific region next year

Deccan Chronicle  

New Delhi: Office rentals in Bengaluru is expected to grow by 5-7 per cent -- highest in the Asia-Pacific region -- during the next year, according to Knight Frank India. Bengaluru's prime office rental is expected to grow in the range of 5-7 per cent YoY in 2023, highest amongst the 24 APAC cities tracked in the report. New Delhi's …

Bengaluru may see highest growth in office rent in APAC next year: Report
2 years ago

Bengaluru may see highest growth in office rent in APAC next year: Report

Hindustan Times  

Office rentals in Bengaluru is expected to grow by 5-7 per cent -- highest in the Asia-Pacific region -- during the next year, according to Knight Frank India. READ | Why Karnataka's Mysuru is the next real estate hotspot in India Bengaluru's prime office rental is expected to grow in the range of 5-7 per cent YoY in 2023, highest …

Property registrations in Mumbai rose 11% to 8,628 units in September: Report
2 years, 2 months ago

Property registrations in Mumbai rose 11% to 8,628 units in September: Report

Live Mint  

In spite of rising home costs and borrowing costs, registration of properties in Mumbai jumped 11% last month to 8,628 units, the highest level for September in the previous 10 years, according to a study released today by Knight Frank India, a renowned international property consultant. In September 2022, there were 8,628 property sale registrations in Mumbai city, compared to …

Real Estate: 2022 Likely To Be Best Year for India's Office Market, Says Colliers Report
2 years, 2 months ago

Real Estate: 2022 Likely To Be Best Year for India's Office Market, Says Colliers Report

News 18  

The year 2022 is likely to emerge as the best year in terms of office space leasing, with absorption likely to cross 50 million sq ft across the top-6 cities — Bengaluru, Chennai, Delhi-NCR, Hyderabad, Mumbai and Pune. While hybrid working continues to be the mainstay, occupiers are not shying away from leasing new large spaces,” Colliers India said in …

‘Bengaluru leads office leasing market with a 30% share in Q2’
2 years, 5 months ago

‘Bengaluru leads office leasing market with a 30% share in Q2’

The Hindu  

Bengaluru led the office leasing market in the country in the second quarter of calendar year 2022 by solely forking out a 30% market share followed by Mumbai and Delhi-NCR claiming 19% and 18% slice respectively, said Colliers, a global realty advisory and management firm, on Monday. All the major markets, with Bengaluru dominating, witnessed strong leasing activity during the …

Robust Recovery: Office Space Leasing Jumps 97%; Bengaluru, Delhi-NCR Leading
2 years, 8 months ago

Robust Recovery: Office Space Leasing Jumps 97%; Bengaluru, Delhi-NCR Leading

News 18  

The office space sector in India continues to witness a robust recovery, as the leasing activity during January-March jumped 97 per cent y-o-y to touch 11.4 million sq ft, according to a report by India’s leading real estate consulting firm CBRE South Asia. Technology corporates drove leasing with a share of about 34 per cent, followed by BFSI firms, flexible …

Office Space Leasing Sees Rebound; Bengaluru in Highest Demand, Followed by NCR
2 years, 8 months ago

Office Space Leasing Sees Rebound; Bengaluru in Highest Demand, Followed by NCR

News 18  

With the number of COVID-19 cases coming down, demand for offices has started making a swift return with office space leasing registering a 25 per cent year-on-year jump during January-March 2022 to 10.8 million square feet. State-wise, Bengaluru maintained its top position leasing 3.5 msf of office space which was a rise of 5 per cent year-on-year. “The first quarter …

'The Address' eyeing giant expansion in 2022
2 years, 10 months ago

'The Address' eyeing giant expansion in 2022

Hindustan Times  

The co-working and managed office spaces sector is emerging as the fastest-growing asset class within the conventional office space sector across the metro and megacities in India. 'The Address' Tapping the immense potential of the co-working space sector, 'The Address' has recently taken a giant leap that further strengthens its position in this rapidly growing business in India. 'The Address', …

Office Space Demand Up By 50% in 2021 as Tech Firms, Startups Recruit More Employees
2 years, 10 months ago

Office Space Demand Up By 50% in 2021 as Tech Firms, Startups Recruit More Employees

News 18  

New Delhi, Jan 23 Demand for office space in Delhi NCR region has grown 50 per cent year-on-year in 2021, majorly due to strong absorptions by startups and technology firms, said global real estate consultancy firm Colliers. Flight to quality is driving occupiers’ real estate strategy and Noida Expressway, Golf Course Extension Road and DLF Cybercity drove the bulk of …

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