News  Sources

GCC demand surges: Foreign firms lease record 9.1 mn sq ft office space in Jan-Mar; India cements global hub status

Foreign companies leased a record 9.1 million square feet of office space across India’s top nine cities during the January to March quarter to set up Global Capability Centres, underscoring robust demand for premium workspaces. Overall gross office leasing rose 5 percent year-on-year to 20.7 million square feet, up from 19.7 million square feet in the same period last year.

The surge in leasing highlights India’s growing status as a global hub for high-complexity capability functions. Demand was broad-based across sectors including e-commerce, technology and banking and financial services, with both mid-sized firms and established Fortune 500 companies expanding their presence. American companies accounted for nearly three-quarters of the total leasing activity for Global Capability Centres during the quarter.

Bengaluru led overall office leasing with a 29 percent share, followed by Delhi and the National Capital Region at 22 percent and Mumbai at 16 percent. Together, these three cities made up about two-thirds of the total office space leased. Companies are increasingly opting for green-certified, amenity-rich and innovation-focused workspaces, with leasing momentum expected to remain strong through 2026.

Original article source: https://timesofindia.indiatimes.com/real-estate/news/gcc-demand-surges-foreign-firms-lease-record-9-1-mn-sq-ft-office-space-in-jan-mar-india-cements-global-hub-status/articleshow/130067810.cms
Source Id: 9165486571

share this article:  

Our mission is to provide you with up-to-date, concise news from multiple sources in one place, keeping you informed about Israel.
 
Hit 'Subscribe' to get the latest curated news about Israel delivered daily to your inbox