Global Capability Centres (GCCs) have set a new record in office leasing activities, accounting for 29.4 million square feet in 2024. This marks a significant milestone, with GCCs contributing to 37% of overall office leasing globally.
GCCs, which are offshore operations set up by multinational corporations to support their global operations, have been expanding aggressively in markets like India, Poland, and the Philippines. The BFSI sector, in particular, has been a major driver of this growth as institutions increasingly rely on GCCs for functions like data analytics, IT support, and compliance.
The surge in leasing activities reflects the growing importance of GCCs in global business strategies. With companies prioritizing cost efficiency and access to skilled talent, the GCC model is expected to see sustained growth in the coming years.
