States target 1,300+ new Global Capability Centres by 2031; Hyderabad records over 24 million sq. ft. of GCC leasing
REG NEWS: India’s Global Capability Centre (GCC) expansion is emerging as a major driver of jobs, office demand and real estate growth, with states collectively targeting more than 1,300 new GCCs and over 1.1 million jobs by 2031, according to a latest report by CBRE South Asia.
The report, The Policy Advantage: Powering India’s GCC Growth, said states including Karnataka, Maharashtra, Haryana, Uttar Pradesh, Gujarat, Rajasthan, Madhya Pradesh and Andhra Pradesh have introduced dedicated GCC policies to attract investments. Telangana and Delhi have also adopted policy frameworks to strengthen their GCC ecosystems.
The policy push is already translating into strong commercial real estate demand. GCCs leased more than 123 million sq. ft. of office space across India’s top nine cities between 2022 and H1 2026, with their share of total office leasing rising from around 29% in 2022 to 43% in H1 2026.
Hyderabad No.2 in GCC leasing
For Hyderabad, the numbers are particularly significant. The city recorded more than 24 million sq. ft. of cumulative GCC leasing, accounting for nearly 20% of India’s total GCC leasing during the period. Only Bengaluru was ahead, with more than 51 million sq. ft., or around 42% of the national total. Chennai, Delhi-NCR and Pune each recorded over 13 million sq. ft., while Mumbai recorded nearly 5 million sq. ft. Technology accounted for 23% of GCC leasing, followed by BFSI at 22% and Engineering & Manufacturing at 16%.
Jobs could reshape Hyderabad real estate
The expansion of GCCs could have a multiplier effect on Hyderabad’s property market. More jobs mean greater demand for office space, housing, rentals, retail, hospitality and supporting infrastructure. For Hyderabad, continued GCC expansion could further strengthen established employment corridors such as HITEC City, Madhapur, Gachibowli and the Financial District, while creating opportunities for emerging locations with better connectivity and development potential.
The CBRE report highlights a larger trend: GCC policies are increasingly becoming real estate policies too.