Gurugram has emerged as a 100 million (mn) square foot office market, becoming the largest office market in North India, according to a CBRE report. In the five years since 2021 the city added 21 mn square feet of office space and recorded 40 mn square feet of leasing. The report notes that around 59 per cent of the stock is green-certified and about one third is institutionally owned. The leasing by international occupiers reached 17 mn square feet over the past five years, signalling a shift towards institutional-grade, sustainable offices.

CBRE recorded investment inflows of six billion (bn) dollars between 2018 and the first quarter of 2026, with most capital directed towards land and site acquisitions and built-up office assets. The report attributes capital allocation to demand for institutional-quality stock and developer strategies favouring long-term ownership. Growth has been underpinned by global and domestic companies establishing large-format campuses in the city and by the presence of foreign universities within Grade A technology parks. The development management agreement model is cited as enabling capital-light, institutional-quality delivery.

A senior CBRE executive observed that Gurugram's evolution from an industrial satellite town into a 100 mn square foot office market reflects four decades of sustained infrastructure investment, policy support and developer confidence. The head of research for India, Middle East and North Africa indicated that the city is attracting early interest from sectors such as life sciences and aviation which historically were not major office occupiers in Gurugram. This demand diversification is expected to broaden the city's occupier base over coming years. CBRE expects sustained global confidence to support further institutional participation.

The report projects total office stock to expand to 120-125 mn square feet by 2030, providing scope for continued leasing and investment. Institutional ownership, sustainability credentials and campus-style developments are likely to shape new supply and occupier preferences. The shift towards institutional-grade, sustainable offices has been evident in leasing and investment patterns recorded since 2021. CBRE is a Dallas-based commercial real estate services firm serving clients in more than 100 countries.