Delhi-NCR and Mumbai are among the top ten markets in Asia Pacific region (APAC region), driven by demand from Global Capability Centres (GCCs) and India-focused businesses, as observed in Knight Frank APAC Prime Office Rental Index.
India has firmly established itself as the world's top destination for Global Capability Centres (GCCs), with over 1,800 centers serving more than 1,400 global corporations, according to a report by JLL India.
Bengaluru (Karnataka) [India], October 9: Arctic Wolf®, a leader in security operations, today announced the launch of its first Indian global capability centre (GCC) in Bengaluru, Karnataka. The new India office location will play a pivotal role in scaling and advancing the Arctic Wolf
Bengaluru continues to lead office space absorption, accounting for 30 per cent of total leasing from January to September 2024, followed by Delhi-NCR and Hyderabad with 14 per cent each, Chennai with 13 per cent, and Mumbai and Pune contributing 12 per cent each.
The total number of Global Capability Centres (GCCs) in India crossed the number of over 1,700, and the revenue of GCCs rose to USD 64.6 billion in the financial year 2024, a report jointly released by Nasscom and consulting firm Zinnov said, terming the country the "GCC Capital of the world
After Bengaluru, Hyderabad is slowly emerging as the second preferred city for BFSI companies who are looking to establish Global Capability Centres (GCCs) or expand their operations in India, talent solutions provider Careernet observed in its report.
Hyderabad (Telangana) [India], August 28: Flutter Entertainment (NYSE: FLUT) (LSE: FLTR), the world's leading online sports betting and iGaming operator, has opened a new Global Capability Centre in Hyderabad, India.
Bengaluru (Karnataka) [India], July 26: Embassy Office Parks REIT (NSE: EMBASSY / BSE: 542602) ('Embassy REIT'), India's first listed REIT and the largest office REIT in Asia by area, reported results today for the first quarter ended June 30, 2024.
Karnataka IT Minister Priyank Kharge said that the state has been the leading force in India's digital revolution, with (Global Capability Centres) GCCs serving as a key driver for the state's growth trajectory.
At an event jointly hosted by the Confederation of Indian Industry (CII) and the Employers' Federation of India (EFI) on Friday, she said, "Our demographic dividend and labour reforms will drive future growth. Now, India's GDP is about USD 3 trillion and is expected to reach USD 33 trillion
The CBRE's report noted that the overall office leasing deals remained strong in the country, with gross office leasing touching 32.8 million sq. ft. during Jan-Jun' 2024. This was an increase of 14 per cent year-on-year basis across the top nine cities of India.
The report stated that the country stands at an inflection point where India's office markets are expected to move ahead given the tailwinds in the global and domestic economy conditions and India's standing as the "office to the world".