Optum leases office space in Chennai's Embassy Splendid Tech Zone for GCC

Time of India

4 days ago

Optum Global Solutions
, India arm of US healthcare giant
UnitedHealth Group
, has leased a 500,000-square-feet office space in Chennai, in one of the largest deals in South India's commercial office market this year.
The facility in the Embassy Splendid Tech Zone, will serve as Optum's newest
Global Capability Centre
(GCC), bolstering its existing footprint across Noida and Bengaluru, where the company occupies around 750,000 sq ft.
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The transaction, inked at rentals around Rs 70–75 per sq ft, reaffirms India's strategic appeal as an innovation hub.
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'The expansion is expected to significantly enhance the company's global delivery network, while tapping into Chennai's deep technology talent pool,' a person aware of the deal said. 'The
property
is currently under construction and will go live by Q3 of 2025.'
Located in Chennai's Thoraipakkam-Pallavaram Radial Road corridor, Embassy Splendid Tech Zone, an integrated
business
park spread across five million sq ft, hosts clients like Accenture, BNY Mellon and Wells Fargo.
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The property has 1.4 million sq ft of development campus with the remaining to be built over the coming quarters.
Embassy Reit and Optum did not reply to emailed queries until press time Monday.
Chennai's office leasing market is witnessing a robust momentum, driven by GCCs. The city recorded over 2.9 million sq ft of gross absorption in the first half of 2025, a 15% jump year-on-year, according to industry data.
Nationally, the first half of 2025 is on track to cross 80 million sq ft in gross leasing, driven by strong pre-commitments and strategic consolidations.
GCCs alone account for about 50% of total active demand, reinforcing their role as anchor occupiers in India's Grade A commercial real estate market.
India has become a strategic innovation hub for UnitedHealth Group, with delivery centres in Gurgaon, Noida, Hyderabad, Bengaluru, and Chennai.
According to experts, India continues to cement its status as the GCC capital of the world, now home to over 1,700 active centres, comprising 53% of the global GCC footprint. With GCCs now occupying over one-third of India's total Grade A office stock, they have overtaken all other occupier groups in scale and impact,
As the focus shifts from cost arbitrage to value creation, sectors such as healthcare, life sciences, and AI-driven technology are leading fresh leasing activity. Markets like Hyderabad and Chennai are emerging as hubs, offering strong
supply
pipelines, competitive rentals, and quality talent.
Analysts forecast India's GCC employee base will cross 2.8 million by 2030, further leading to an increasing demand for large, scalable campuses.