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Coworking firms bet big on GCC demand with specialised, premium centres

Segment becoming super lucrative with rentals looking up by 40-45% vs flagship spaces

Coworking space
premium

Specialised GCC centres require higher upfront investment but are proving lucrative. | Illustration: Binay Sinha

Prachi Pisal Mumbai

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Indian coworking operators are shifting gears to capture the booming demand from Global Capability Centres (GCCs). Moving beyond their traditional base of startups and small and medium enterprises (SMEs), players such as Awfis Space Solutions, WeWork India, Smartworks, and Cowrks by Brookfield are designing large, premium centres tailored to multinational enterprises, complete with high-end amenities, enterprise-grade security, and flexible leasing structures while commanding extra premiums on rents.
 
The GCC story in India has grown significantly in recent years. Multinational firms are no longer restricting their centres to IT (information technology) and BFSI (banking, financial services, and insurance) functions; they are