Absorption of real estate space by GCCs crosses pre-pandemic level

Trend driven by stricter policies on working remotely

Real estate absorption in India by global capability centres (GCCs) has surpassed pre-pandemic levels, which has been driven by stricter policies on moving away from working remotely and returning to office, a surge in hiring in the last two years, and expansion plans.

 

GCCs have leased or committed themselves to taking about 27.7 million square feet (sq ft) of grade A commercial real estate in 2024 and 24.1 million sq ft in 2023, which represented 36 per cent and 38 per cent of overall absorption, respectively, according to the data sourced from real estate consultant JLL.

 

In comparison, the space