Latest news with #OfficeLeasing&RetailServices
Time of India
15-06-2025
- Business
- Time of India
US firms contribute 33% of total office demand in India's top 7 cities in 2022-24: JLL
NEW DELHI: US companies have rented 64.5 million square feet of office space during 2022-24 across India's seven major cities, contributing over one-third of the total leasing of workspaces, according to JLL India. Real estate consultant JLL India data showed that the total gross leasing of office space during 2022-24 calendar years stood at 190 million sq ft across seven major cities -- Delhi-NCR, Mumbai, Chennai, Kolkata, Bengaluru, Hyderabad and Pune. Out of this, US firms have taken 64.5 million sq ft office spaces on rent, mainly to set up their Global Capability Centers (GCCs). Nearly 70 pc or 64.5 million square feet office spaces were rented for setting up of GCCs. "India's combination of skilled talent at scale, supportive ecosystem, cost advantages, and growth-oriented policy environment continues to make it an increasingly attractive destination for US corporations looking to establish and expand their global capabilities," said. Rahul Arora, Head - Office Leasing & Retail Services, Senior Managing Director (Karnataka, Kerala), India, JLL. GCC-led requirements constitute 70 per cent of all space demand from US occupiers, signaling continued long-term investment and confidence in India as a key R&D and innovation hub, he added. The consultant said that IT city Bengaluru is the most preferred location for US corporates. US-based technologies and BFSI (Banking, Financial Services and Insurance) companies are major drivers of office demand in top Indian cities.>
Time of India
14-06-2025
- Business
- Time of India
GCC boom fuels US demand, US firms drive one-third of office demand in top Indian cities; Bengaluru leads office space race among top 7 cities
US-based companies have emerged as the single-largest contributors to India's office space demand in recent years, accounting for over one-third of gross leasing across the top seven cities between 2022 and 2024, according to data from real estate consultancy JLL India. During the three-year period, total office leasing across Delhi-NCR, Mumbai, Bengaluru, Chennai, Kolkata, Hyderabad and Pune stood at 190 million square feet. Of this, US firms alone leased 64.5 million sq ft, with nearly 70% of that space taken to establish or expand Global Capability Centres (GCCs), JLL said. 'India's combination of skilled talent at scale, supportive ecosystem, cost advantages and a growth-oriented policy environment continues to make it an increasingly attractive destination for US corporations looking to establish and expand their global capabilities,' said Rahul Arora, Head – Office Leasing & Retail Services and Senior Managing Director (Karnataka, Kerala) at JLL India, PTI reported. The data underlines sustained interest from US-based multinationals in India's technology hubs, led by Bengaluru, which continues to be the top choice for setting up GCCs. JLL noted that GCC-led requirements formed around 70% of all space demand from US occupiers, signalling strong long-term investment and positioning India as a key hub for R&D, technology and innovation. Technology and BFSI (Banking, Financial Services and Insurance) companies from the US are driving much of this office demand, according to JLL, reflecting a broader global shift towards centralising high-end service operations in India. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
14-06-2025
- Business
- Time of India
US firms deepen commitment to India's office market as GCCs expand footprint
India continues to cement its status as a strategic hub for American corporations, with US firms steadily expanding their office presence across the country. From Mumbai to Bengaluru, American occupiers are actively shaping the landscape of India's commercial real estate sector. This trend is being led by Global Capability Centers (GCCs), which are evolving beyond their traditional IT roots into engines of innovation, research & development, and high-value business operations. US companies accounted for 34.2% of India's total office leasing between 2022 and the first quarter of 2025, showed data from JLL India. While their share has slightly dipped from pre-pandemic highs due to broader market participation, their absolute leasing volume has increased by around 16%. Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track default , selected Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like If You Eat Ginger Everyday for 1 Month This is What Happens Tips and Tricks Undo The year 2024 marked the highest annual office leasing activity ever recorded by US firms in India, and Q1 2025 has sustained the previous year's strong quarterly average--indicating a stable, long-term trend. 'India's combination of skilled talent at scale, supportive ecosystem, cost advantages, and growth-oriented policy environment continues to make it an increasingly attractive destination for US corporations.' He noted that US firms now hold a 45% share of total active space demand, rising to 55% among non-domestic occupiers. Of this, 70% is driven by GCC requirements,' said Rahul Arora, Head - Office Leasing & Retail Services and Senior Managing Director (Karnataka, Kerala), India, JLL. Live Events Driving this momentum are US-origin GCCs, which make up more than two-thirds of all leasing activity by American firms in India. 'US-origin GCCs consistently represent over two-thirds of all leasing activity by American firms. This underscores India's central position in long-term business strategies for major US corporations,' said Dr. Samantak Das, Chief Economist and Head of Research and REIS, India, JLL. Since 2017, US-based GCCs have contributed nearly 70% of all GCC leasing in India. City-level patterns reveal Bengaluru as the leading destination, accounting for 35% of US leasing during the period, followed by Hyderabad and Delhi NCR. Chennai and Pune are also emerging as high-potential markets, each offering a mix of sectoral diversity and talent availability. While technology remains the dominant sector for US occupiers, BFSI and manufacturing GCCs have posted the strongest growth. Manufacturing-led GCCs, in particular, have seen the largest percentage increase in leasing, driven by policy pushes like ' Make in India ' and growing global interest in India's engineering and design capabilities. Across key metros, American firms are aligning their operations with each city's strengths--from Mumbai's banking, financial services, and insurance (BFSI) dominance to Chennai's balanced sector mix--marking a new phase in India's real estate and corporate evolution.
