Get ready for a GCC-fueled renaissance in India’s office realty sector. In top cities like Mumbai, Bengaluru, and Delhi-NCR, these global hubs could drive half the demand for office spaces, according to an eye-opening report. US multinationals are at the vanguard, drawn by India’s tech-savvy talent and economic incentives.
Data from 2020 reveals US dominance at 70% of GCC leases, with EU/UK at a distant 8-10%. Future outlooks are stellar: 35-40 million sq ft yearly Grade A demand from GCCs, comprising 40-50% of total office uptake.
Trade harmonies with the US, EU, and UK are supercharging sectors from IT and banking to R&D and consulting. Colliers India’s Arpit Mehrotra predicts: ‘Stable US tech demand pairs with rising EU/UK interest in manufacturing, BFSI, and engineering GCCs.’
GCCs have already leased 38% of the 310 million sq ft demanded since 2020—jumping from 16 million to 30 million annually by 2025. This trajectory reflects strategic offshoring amid global realignments.
‘GCCs will anchor demand growth and tenant variety, amplified by eased trade barriers and new agreements,’ asserts Vimal Nader, Colliers’ research chief. With abundant skills and cost savings, India remains the go-to for GCC scaling, promising robust office market performance ahead.