GCCs Power Record Office Absorption in 2025: Vestian

20 Jan 2026 CW Team

Global Capability Centres (GCCs) have recently emerged as the key growth engine of India’s office market, accounting for 45 per cent of total pan-India absorption in 2025, up from 41 per cent in the previous year, according to Vestian. GCC-led leasing reached 34.9 million sq ft, registering a 20 per cent year-on-year increase.

Driven by strong GCC demand, a supportive policy environment and continued restrictions on H1-B visas, total office absorption touched a record 78.2 million sq ft in 2025. This represented an 11 per cent annual growth despite global macroeconomic uncertainty and geopolitical headwinds, highlighting the resilience of India’s office market.

To meet rising occupier demand, developers accelerated construction activity, resulting in new completions rising 8 per cent year-on-year to 55.5 million sq ft, the highest annual supply recorded in a calendar year. With absorption significantly outpacing supply, the pan-India vacancy rate declined sharply by 310 basis points to 10.8 per cent in 2025.

Bengaluru led GCC absorption with a 32 per cent share, followed by Hyderabad at 19 per cent. NCR witnessed a sharp rise in GCC activity, with the share of office space absorbed by GCCs increasing from 18 per cent in 2024 to 45 per cent in 2025, reinforcing its emergence as a major GCC destination.

Vestian noted that while IT–ITeS continued to dominate leasing activity, increasing participation from BFSI, healthcare, engineering and flex operators has added depth to demand. Office absorption is expected to continue its upward trajectory, with total absorption projected to reach 85–90 million sq ft by 2026, supported largely by sustained GCC expansion.

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20 Jan 2026

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