India Office Leasing Hits 43 Million Sq Ft in H1 2026: Cushman & Wakefield
Real Estate

India Office Leasing Hits 43 Million Sq Ft in H1 2026: Cushman & Wakefield

India's office market recorded its strongest first-half leasing performance on record, with gross leasing volume (GLV) reaching approximately 43 million sq ft in H1 2026, a five per cent year-on-year increase, according to Cushman & Wakefield's Q2 2026 Office Market Beat Report.

Global Capability Centres (GCCs) remained the key demand driver, leasing 16.5 million sq ft, up around 38 per cent year on year, accounting for 38 per cent of total office demand. Bengaluru led GCC leasing with 5.36 million sq ft, followed by Pune, Delhi-NCR and Mumbai.

Flexible workspace operators also posted their strongest half-year performance, leasing 8.4 million sq ft, a 55 per cent increase over H1 2025, reflecting continued demand for managed office solutions.

Among cities, Mumbai recorded the highest growth in leasing, rising 30 per cent to 10.7 million sq ft, while Bengaluru leased 10.3 million sq ft. Hyderabad registered 25 per cent growth, whereas Delhi-NCR and Chennai witnessed lower leasing activity compared to the previous year.

Net absorption stood at approximately 23 million sq ft during H1 2026. Office vacancy declined to 13.7 per cent in Q2 2026, marking the twelfth consecutive quarter of vacancy compression and the lowest level since the pandemic. New supply totalled 21 million sq ft during the first half, with over 35 million sq ft expected to be completed in the second half of the year.

"The robust leasing activity during the first half of 2026 reinforces the structural strength of India's office market. Global Capability Centres continue to be at the heart of this momentum, while tightening vacancies and rental growth are expected to encourage greater commercial development activity," said Anshul Jain, Chief Executive – India, SEA, MEA & APAC Office and Retail, Cushman & Wakefield.

India's office market recorded its strongest first-half leasing performance on record, with gross leasing volume (GLV) reaching approximately 43 million sq ft in H1 2026, a five per cent year-on-year increase, according to Cushman & Wakefield's Q2 2026 Office Market Beat Report.Global Capability Centres (GCCs) remained the key demand driver, leasing 16.5 million sq ft, up around 38 per cent year on year, accounting for 38 per cent of total office demand. Bengaluru led GCC leasing with 5.36 million sq ft, followed by Pune, Delhi-NCR and Mumbai.Flexible workspace operators also posted their strongest half-year performance, leasing 8.4 million sq ft, a 55 per cent increase over H1 2025, reflecting continued demand for managed office solutions.Among cities, Mumbai recorded the highest growth in leasing, rising 30 per cent to 10.7 million sq ft, while Bengaluru leased 10.3 million sq ft. Hyderabad registered 25 per cent growth, whereas Delhi-NCR and Chennai witnessed lower leasing activity compared to the previous year.Net absorption stood at approximately 23 million sq ft during H1 2026. Office vacancy declined to 13.7 per cent in Q2 2026, marking the twelfth consecutive quarter of vacancy compression and the lowest level since the pandemic. New supply totalled 21 million sq ft during the first half, with over 35 million sq ft expected to be completed in the second half of the year.The robust leasing activity during the first half of 2026 reinforces the structural strength of India's office market. Global Capability Centres continue to be at the heart of this momentum, while tightening vacancies and rental growth are expected to encourage greater commercial development activity, said Anshul Jain, Chief Executive – India, SEA, MEA & APAC Office and Retail, Cushman & Wakefield.

Related Stories

Gold Stories

Next Story
Infrastructure Urban

KONE Opens India's First Digital Experience Centre in Pune

KONE, a global elevator and escalator manufacturer, has inaugurated its first Digital Experience Centre (DEC) in India, located in Pune. The facility aims to showcase how artificial intelligence (AI), connectivity and data-driven technologies can enhance customer experiences and improve building operations.The centre was inaugurated by Jussi Herlin, Executive Vice Chair, KONE Corporation; Philippe Delorme, President and CEO, KONE; and Nandan Nilekani, Co-founder and Chairman of the Board, Infosys.Designed as an interactive customer environment, the facility demonstrates digital solutions cover..

Next Story
Infrastructure Urban

CII GreenCo Launches Circularity Guidelines for Indian Industry

The Confederation of Indian Industry (CII) GreenCo Council has launched the CII GreenCo Circularity Guidelines – Pilot Version at the 17th CII GreenCo Waste & Resource Management Summit 2026 in Chennai. The initiative aims to strengthen resource efficiency, waste reduction and circular economy practices across Indian manufacturing and process industries.The guidelines introduce a structured framework with circularity indices covering raw materials, consumables, packaging and other resource inputs. These indicators will help industries assess existing practices, identify opportunities to ..

Next Story
Infrastructure Energy

Global Electronics Association Launches IPC-1783-CO2E Standard

The Global Electronics Association has introduced IPC-1783-CO2E, a new international standard aimed at improving consistency, transparency and comparability in product carbon footprint reporting across the electronics manufacturing industry.The standard, titled International Standard for Data Collection and Reporting of CO2 Equivalent (CO2e) Emissions for the Electronics Manufacturing Supply Chain, provides industry-specific guidance for collecting, estimating and reporting carbon emissions data.With increasing regulatory requirements and customer expectations, electronics manufacturers face c..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code