Bengaluru Leads India's GCC Leasing Market with Record Absorption in 2023

Bengaluru Emerges as India’s Premier GCC Leasing Hub with Unprecedented Growth in 2023

Bengaluru, often referred to as the Silicon Valley of India, has established itself as the nation’s leading destination for Global Capability Centers (GCCs) with a historic surge in leasing activity throughout 2023. According to recent commercial real estate reports, the city witnessed record-breaking office space absorption by GCCs, outperforming other major Indian metros and solidifying its position as the top choice for multinational corporations seeking strategic growth, innovation, and scalability.

This remarkable expansion is driven by Bengaluru’s robust infrastructure, highly skilled talent pool, and a vibrant ecosystem that fosters collaboration across technology, finance, research, and engineering sectors. The city’s dynamic environment, coupled with a supportive government policy framework and world-class amenities, has attracted Fortune 500 companies and emerging enterprises alike, fueling sustained demand for premium office spaces.

In 2023, Bengaluru accounted for the highest share of GCC leasing volume in India, surpassing traditional hubs such as Hyderabad, Gurugram, and Mumbai. The city’s micro-markets—particularly Whitefield, Outer Ring Road, and Electronic City—have seen unprecedented growth, offering state-of-the-art workspace solutions tailored to the evolving needs of global organizations. This surge in leasing activity is a testament to Bengaluru’s appeal as a preferred gateway for companies establishing or expanding their global operations in India.

With advanced connectivity, seamless access to international and domestic airports, and a cosmopolitan lifestyle, Bengaluru offers an unparalleled value proposition for businesses looking to tap into India’s innovation-driven economy. The city’s educational institutions and research centers further enhance its attractiveness, supplying a continuous stream of qualified professionals and thought leaders to the GCC sector.

As organizations increasingly prioritize digital transformation and operational excellence, Bengaluru’s dominance in the GCC leasing market is expected to continue, setting new benchmarks for real estate absorption and investment in the coming years. For global enterprises aiming to capitalize on India’s growth story, Bengaluru remains the foremost destination, offering unmatched opportunities in a thriving urban landscape.