New Delhi [India], April 5 (ANI): The Global Capability Centres (GCCs) are projected to account for about 35-40 per cent of the total office space absorption across the key cities in 2025, CBRE said in a report.

The report added that the state-specific policies designed to support the GCC expansion will encourage leasing growth in the smaller cities, complementing the activity observed in the established hubs.

Cities such as Bengaluru, Hyderabad, Chennai, Mumbai, Pune besides Delhi-NCR are the major hubs for GCCs in India.

The report by CBRE, a real estate consultancy company, added that the technology sector will lead the total office demand in the country, given its focus on pioneering advanced solutions.

GCCs within the BSFI (Banking, Financial Services, and Insurance) and Evaluation and Management (E&M) sectors will drive space take-up, with notable demand stemming from niche occupier groups, often actively pursuing digital transformation initiatives.

Additionally, as per the report, the semiconductors, aerospace, automobiles, and life sciences sectors are likely to exhibit strong GCC absorption levels.

Global corporations are increasingly capitalising on India's expansive talent pool, positioning their GCCs as strategic hubs or secondary headquarters to drive innovation, digital transformation, and the development of high-value capabilities.

The report added that the expansion of GCCs into multifunctional centres is expected to be fuelled by the consolidation of existing operations and the entry of the new firms, all of which are likely to contribute to the sustained leasing activity.

Talking about the major hubs, the report added that cities such as Bengaluru, Hyderabad and Mumbai besides Delhi-NCR will sustain their prominence in leasing activity.

The report added that in 2025, leasing demand will expand into tier-II cities as businesses seek strategic expansion opportunities.

The report highlights that while the US-based firms are anticipated to remain the dominant contributors to the GCC leasing activities in the country, the proportion of non-US corporations is projected to increase.

European and Asian firms are increasingly considering India as a strategic destination for establishing GCCs, drawn by the success of existing firms. (ANI)