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Global Capability Centres (GCCs) are playing a central role in India’s office market and it’s not just because they are leasing more space.

GCC-led demand matters this year because it is raising expectations for what office space in India should offer. As multinational companies expand into areas like AI, analytics, engineering, cloud, product development and strategic operations, offices are no longer seen as just a cost. They are now viewed as essential business assets.

This change is clearly affecting the demand. According to a CBRE report, the office market will surpass 1 billion square feet in 2026, driven by more investment-grade buildings and tenants who prioritise quality and the future. The report also highlights a shift toward AI-driven workforce strategies, which are changing how companies approach office design, business continuity and long-term planning.

Real estate services company Colliers concurs with this view, highlighting strong leasing forecasts. It is expected that the annual office demand in India will settle at 70-75 million square feet in 2026 and beyond. GCCs are likely to lease 30 to 35 million square feet in 2026, making up 40% to 50% of Grade A office demand. Importantly, this demand is spreading beyond technology into sectors such as BFSI, engineering, manufacturing, healthcare and consulting, indicating a more diverse and stable tenant base.

Multiple reports point out to ‘flight to quality’, where the definition of office space is influenced by asset type, functionality and industry. That means a rising preference for green-certified, digitally resilient, amenity-rich and operationally scalable buildings that can support hybrid work, enterprise collaboration and high-uptime business functions. 80-90% of new office supply in 2026 is anticipated to be green certified, while flexible workspaces are projected to account for nearly 20% of Grade A leasing, reflecting the growing appeal of agility and “Core + Flex” strategies among occupiers.

This is also the central insight: GCCs are not just increasing leasing volumes; they are materially influencing how India’s commercial real estate market is evolving, from investment appetite to workplace formats and asset positioning. In effect, GCCs are helping create a market where premium office space is no longer merely desirable but increasingly necessary.

The shift is creating a clear split among landlords and developers in 2026. Those who succeed will not be the ones who just provide space, but those who offer resilience, sustainability, digital readiness and long-term value for tenants.