Global Capability Centres (GCCs) accounted for 43 per cent of total office leasing in India during the first half of 2026, driven by multinational companies expanding their presence and demanding premium Grade A office spaces across major commercial hubs. This finding comes from an Equirus Real Estate Sector Trends presentation for July 2026.
GCCs Dominate Office Leasing and Large Transactions
The presentation highlighted that GCCs remain the primary demand driver in India's office market. The number of GCC transactions increased by approximately 30 per cent year-on-year. 'Global Capability Centres accounted for 43% of total office leasing during H1 2026, with the number of GCC transactions increasing by approximately 30% YoY. Expansion by multinational companies continues to support demand for premium Grade A office assets across India's major commercial hubs,' the presentation stated.
Furthermore, GCCs accounted for 53 per cent of large office transactions during the first half of the year, reinforcing their role as the largest occupier segment in the country's commercial real estate market.
Record Office Absorption and Supply Growth
India's office market continued to witness strong occupier demand overall. Office leasing reached 45.5 million square feet in H1 2026, the highest-ever absorption recorded for a six-month period. Leasing grew 9.6 per cent year-on-year, with quarterly absorption at 24.6 million square feet in Q2 2026.
New office supply remained healthy, with 32 million square feet added during H1 2026, up 14 per cent year-on-year, providing adequate inventory to support future demand. 'India's office market is witnessing sustained demand, driven by GCC expansion, institutional capital and premium Grade A assets,' Equirus noted.
Shift Toward Green and Modern Office Spaces
Occupier preferences increasingly favoured high-quality, sustainable office spaces. According to Equirus, 76 per cent of new office supply was green-certified, 73 per cent of leasing took place in green assets, and 70 per cent of leasing occurred in buildings less than 10 years old. This trend underscores the growing emphasis on ESG-compliant properties.
Summing up the market evolution, the presentation concluded: 'India's office market has evolved into a large-scale institutional asset class, with record leasing, sustained GCC expansion and growing preference for premium, ESG-compliant office assets.'
