No. of GCCs to increase to 1900 by 2025
GCCs occupy 35-40% share in office space
Reveals CBRE South Asia report
The number of operational Global Capability Centres (GCC), which offer a platform for the activities of the MNCs, will grow rapidly in the next two years, according to renowned real estate consulting organization CBRE South Asia.
The number of GCCs is expected to increase to 1900 by 2025 from the existing 1580, it said. The share of the GCC in the total office space leasing would be between 35 and 40 per cent, it analyzed. Not only in India, but also in Brazil, China, Chile, Czech Republic, Philippines and Poland, the GCCs are coming up. However, India has emerged as an attractive destination from the perspective of leasing the space and availability of skilled human resources.
The expansion of the GCC would be rapid during the January-June period in India. Their share in the total office space leasing in six cities across the country was put at 38 per cent. During the first six months of the current year, the quantum of the total GCC offices’ lease was put at 9.8 million sft. During the same period, the combined share of the GCCs in Bangalore, Chennai and Hyderabad in total office space leasing is put at 77%. Of the three cities, the Bangalore city ranked number one leasing 3.8 million sft, followed by Chennai (2.4 million sft) and Hyderabad (1.4 million sft). “India has emerged as the utmost priority center for the GCCs. Availability of skilled human resources, atmosphere congenial to conduct business, government support are some of the favorable aspects. Following the reserve migration that had taken place during the Covid-19 situation, the companies have started setting up their GCCs in Tier-2 towns and cities, CBRE-India and South Asia Chairman and CEO Anshuman Magazine said.
