[ad_1]
Bengaluru: The share of world functionality facilities (GCCs) of international corporations in whole workplace house leasing in India is steadily rising. Colliersan actual property administration agency, says the house leased by GCCs in 2023 is the very best since 2020.
The agency says GCCs – expertise and shared companies arms of MNCs – have grow to be a major a part of industrial actual property because the pandemic.Within the decade previous to that, IT corporations dominated. Colliers knowledge reveals that in 2020, about 17 million sq. ft was leased by GCCs. That dropped to fifteen million in 2021 and rose to 19 million in 2022. Final 12 months, it grew 14% to 21.1 million. This was 37% of the overall workplace house of 58 million leased by firms. Colliers believes this might go as much as 40% within the subsequent 24 months.
India has over 1,600 GCCs, and on this fiscal, they employed considerably greater than IT companies, which has historically been the largest hirers of white-collar professionals. Actual property agency Cushman and Wakefield says in a latest report that progress of India’s industrial actual property was largely due to the GCCs within the latest previous, and within the subsequent few years will likely be dominated by them. “GCCs have continued to scale up and greater than 80 GCCs had been both newly established or expanded in the course of the 12 months,” the report says. Actual property consultancy Knight Frank’s latest India actual property, residential, and workplace market report says GCCs had been the one phase within the industrial house that grew in 2023. All different segments like flex areas or co-working areas and third-party IT corporations have witnessed a decline. The agency says Deloitte, Qualcomm, MUFG Financial institution, Financial institution of America, Citibank and Constancy had been a number of the huge occupiers in 2023.
“Whereas GCCs have been historically on the lookout for non-public areas, they’re now warming as much as flex areas,” Arpit Mehrotra, MD of workplace companies at Colliers India, says. “5% to 10% of the flex areas at the moment are being occupied by GCCs,” he says.
The agency says GCCs – expertise and shared companies arms of MNCs – have grow to be a major a part of industrial actual property because the pandemic.Within the decade previous to that, IT corporations dominated. Colliers knowledge reveals that in 2020, about 17 million sq. ft was leased by GCCs. That dropped to fifteen million in 2021 and rose to 19 million in 2022. Final 12 months, it grew 14% to 21.1 million. This was 37% of the overall workplace house of 58 million leased by firms. Colliers believes this might go as much as 40% within the subsequent 24 months.
India has over 1,600 GCCs, and on this fiscal, they employed considerably greater than IT companies, which has historically been the largest hirers of white-collar professionals. Actual property agency Cushman and Wakefield says in a latest report that progress of India’s industrial actual property was largely due to the GCCs within the latest previous, and within the subsequent few years will likely be dominated by them. “GCCs have continued to scale up and greater than 80 GCCs had been both newly established or expanded in the course of the 12 months,” the report says. Actual property consultancy Knight Frank’s latest India actual property, residential, and workplace market report says GCCs had been the one phase within the industrial house that grew in 2023. All different segments like flex areas or co-working areas and third-party IT corporations have witnessed a decline. The agency says Deloitte, Qualcomm, MUFG Financial institution, Financial institution of America, Citibank and Constancy had been a number of the huge occupiers in 2023.
“Whereas GCCs have been historically on the lookout for non-public areas, they’re now warming as much as flex areas,” Arpit Mehrotra, MD of workplace companies at Colliers India, says. “5% to 10% of the flex areas at the moment are being occupied by GCCs,” he says.
[ad_2]
2024-03-22 23:31:31
[
+ There are no comments
Add yours