GCC leasing to reach 40 million sq ft by 2027: Colliers

25 Jul 2026 CW Team

Global Capability Centres (GCCs) are expected to lease 35–40 million sq ft of Grade A office space annually over the next two years, accounting for 45–50 per cent of India's total office demand, according to a report by Colliers India.

The report states that GCCs have leased around 118 million sq ft of Grade A office space across the country's seven major cities since 2021, representing 37 per cent of total office absorption during the period. In the first half of 2026, GCC leasing reached 16.6 million sq ft, accounting for 46 per cent of overall Grade A office demand.

While the technology sector remained the largest occupier with a 39 per cent share of cumulative GCC leasing since 2021, demand has broadened across sectors. Banking, financial services and insurance (BFSI) accounted for 22 per cent of leasing activity, while engineering and manufacturing contributed 16 per cent, together representing more than one-third of GCC demand.

Bengaluru and Hyderabad continued to dominate the market, accounting for more than 60 per cent of cumulative GCC leasing since 2021. Chennai recorded the fastest growth, with leasing volumes increasing more than fourfold compared with 2021 levels. Bengaluru's Outer Ring Road and Hyderabad's Secondary Business District emerged as the leading GCC micro-markets.

According to Colliers, the next phase of growth is expected to be driven by AI-enabled capability centres, smaller GCC formats and expansion into Tier II and Tier III cities, reinforcing India's position as a global hub for technology, engineering and business operations.

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