India is projected to surpass China in Grade-A office space supply by 2026, led by Bengaluru, Hyderabad, and Delhi-NCR. Backed by multinational demand and the rise of GCCs, India is emerging as Asia’s top office market, signalling strong investor confidence and a strategic shift in global commercial real estate focus.
India’s Office Market Poised to Lead APAC
India is on track to become Asia-Pacific’s top office market, surpassing even China in Grade-A commercial supply by 2026, according to a new CBRE forecast. The real estate advisory firm estimates that cities like Bengaluru, Hyderabad, and Delhi-NCR will outpace traditional Chinese office hubs such as Shanghai and Shenzhen in total premium office additions.
CBRE projects Bengaluru will lead the expansion with 13.09 million sq. ft. of new Grade-A space, followed by Hyderabad at 9.25 million sq. ft. and Delhi-NCR at 8.98 million sq. ft. Mumbai is also set to add 4.3 million sq. ft. of new office supply. This growth, CBRE says, stems from a sustained influx of Global Capability Centres (GCCs) and multinational firms making long-term investments in Indian cities.
Enterprise Demand Driving the Surge
Anshuman Magazine, Chairman & CEO of CBRE India and South-east Asia, emphasised that India’s consistent growth in this sector is no accident. “This can easily be credited to the long-term corporate conviction in the country’s growth. Supported by our unparalleled talent and operational scale, Global Capability Centres and other multinational firms are cementing their long-term presence here,” he said.
With India increasingly viewed as a safer, more scalable alternative in global operations, this surge underscores the country’s positioning as a strategic base for business continuity and expansion. Experts suggest India is becoming to service-led industries what China has long been to manufacturing—a global powerhouse.
Delhi-NCR Leading the Next Wave
Developers are particularly bullish on Delhi-NCR, calling it a region to watch. Robin Mangla, President of M3M India, said, “Delhi-NCR stands at the forefront of this transformation, driven by robust infrastructure, exceptional talent, and its strategic advantage as the gateway to North India.” He added that the region’s nearly 9 million sq. ft. of new office inventory signals strong investor appetite and confidence in India’s long-term fundamentals.
Opportunities for Developers and Investors
Ashish Sharma, AVP – Operations at Brahma Group, echoed this optimism, calling the surge “a reflection of strong confidence from international firms.” He pointed to the rise of GCCs, economic stability, and cost-efficient operations as key drivers. For developers, he said, this opens up “a significant opportunity to create sustainable, tech-enabled office spaces that meet global standards.”
Delhi-NCR, in particular, is gaining momentum due to world-class infrastructure, robust connectivity, and a supportive regulatory environment, making it increasingly attractive to global enterprises seeking future-ready campuses.
Global Capital, Local Momentum
This trend isn’t just a local win—it reflects a regional realignment in commercial real estate. As international firms hedge against geopolitical risks and diversify operational bases, India stands out as a resilient, high-yield destination.
With this upward trajectory, India’s Grade-A office market is not just expanding in numbers but evolving in value—becoming a preferred long-term bet for both occupiers and investors in the APAC region.
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