India's Leap Towards Sustainable & Innovative Workspace Design
- Industry News
- March 13, 2024

JLL India has appointed Nishant Kabra as Managing Director, Bengaluru, expanding his responsibilities across the city’s business lines while he continues leading Investment Sales and Debt Advisory for India. With nearly 20 years of real estate experience, Kabra will strengthen leadership across one of India’s most important commercial markets.
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India leased a record 21.5 million sq ft of office space in Q1 2026. GCC demand grew 43% year-on-year while new completions fell 36%. The result: the tightest concentration Bengaluru’s office market has seen in five years — and most 2026–27 term sheets aren’t pricing it in.
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Bengaluru remained India’s leading office market in H1 2026, recording 14.1 million sq. ft. of office transactions, with GCCs leading the activity. Rising demand from AI and semiconductor firms, growing adoption of flexible workspaces, and a strong residential market underscore the city’s expanding role as India’s commercial and innovation hub.
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Bengaluru is witnessing a surge in demand for AI-driven offices as global firms like Anthropic and OpenAI expand operations. GCC leasing, flexible workspaces, and premium assets are seeing strong traction, with the city accounting for 48% of GCC activity in Q1 2026, reinforcing its position as a global innovation hub.
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Bengaluru recorded the highest office rent growth in APAC at 14% in Q1 2026, according to Knight Frank. India’s top cities saw strong leasing activity, led by Mumbai’s record volumes. GCC demand, limited supply, and rising preference for premium assets continue to drive rental growth and market resilience.
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Bengaluru achieved a record 24.1 million sq ft of office leasing in 2025, led by tech firms, GCC expansions, and flexible workspace operators. Despite 12 million sq ft of new supply, vacancy fell to 10.5%. Rents rose 6.6%, and capital values climbed 8.6%, reflecting strong occupier and investor confidence.
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