Large GCCs remain central to India leasing despite closures
Even though a few smaller global capability centers (GCCs), including Cambium Networks's Bengaluru center and Hy-Vee's India engineering center, shut down, impacting about 350 jobs, big GCCs are still major players in India's office leasing scene.
Peush Jain, Managing Director - Commercial Leasing & Advisory, ANAROCK Group, says that while AI and efficiency pushes might mean fewer new seats, they're not expected to shake up overall occupancy much.
GCCs account for 45% of leasing
GCCs accounted for about 45% of the 42.6 million sq ft of gross office leasing across the top seven cities.
According to Manas Mehrotra, Founder of flexible and managed workspace provider 315Work Avenue, more GCCs are choosing flexible offices so they can grow quickly without huge upfront costs.
It's all about staying adaptable, offering better perks for employees, and being close to talent, all while keeping things efficient.