Exciting Growth in India’s Commercial Real Estate Driven by Global Capability Centres

A recent collaboration between **CBRE** and **Zyoin** has unveiled a fascinating trend in the commercial real estate landscape of India. Since 2022, global companies have leased an impressive **53 million square feet** of office space across major cities including **Bengaluru**, **Hyderabad**, **Chennai**, **Pune**, **Delhi-NCR**, and **Mumbai**. This surge is primarily aimed at establishing and expanding their **Global Capability Centres (GCCs)**.

A Boom in Commercial Real Estate

India’s commercial real estate market is on an incredible trajectory, largely propelled by the rapid growth of **GCCs**. This expanding sector is shaping up as a beacon of opportunity for businesses and investors alike.

The Future is Bright for Delhi-NCR

**Sanchit Bhutani**, the Managing Director of **Group 108**, highlighted the immense potential of the **Delhi-NCR** region, especially around the **Noida Expressway**. He noted, “The report showcases a positive outlook for Delhi-NCR’s commercial space market in India. The area around the Noida Expressway shows exceptional promise, driven by the rising demand for office spaces and retail outlets. Major infrastructure projects, like the upcoming **Noida International Airport**, continue to bolster commercial realty growth. As global businesses establish their footprint in this vibrant ecosystem, developers are motivated to create specialized and premium office spaces that cater to a variety of industry needs, adding to India’s lively commercial real estate scene.”

Gurugram: A Transforming Landscape

The **Delhi-NCR** region, especially areas like **Gurugram** and the Noida Expressway, is experiencing a remarkable transformation in its commercial real estate landscape. **Harinder Singh Hora**, Founder Chairman of **Reach Group**, shared insights on this evolution, stating, “Gurugram’s office market is undergoing a transformative phase, driven by a perfect storm of factors. Robust infrastructure development, alongside a flourishing startup ecosystem and the increasing integration of advanced technologies, is drawing global corporations here. As the city morphs into a digital hub, the demand for innovative and sustainable workspace solutions is on the rise. This dynamic environment is steering Gurugram towards becoming a premier commercial center in India and a significant global business destination.”

The Surge of Grade A Office Space

According to **Salil Kumar**, Director of Marketing and Business Management at **CRC Group**, the marked increase in leasing activity by **GCCs** is particularly focused on **Grade A office spaces**. He pointed out, “The heightened demand for Grade A office spaces is set to not only boost rental prices in the prime locations of **Delhi-NCR** but also spark new developments. This growth will strengthen the commercial real estate sector further. As global companies establish large office spaces for their **GCCs** in India, we anticipate a sustained demand for commercial properties, which will inspire developers to create and deliver future-ready office spaces.”