Amazon Expands in Bengaluru with 1.1 Million Sq Ft New Office Space
- Industry News
- June 20, 2024
Hyderabad is on track to surpass 200 million sq. ft of office space by 2030, fueled by increasing demand from technology firms and Global Capability Centers (GCCs), according to a joint report by CBRE and the Hyderabad Software Enterprises Association (HYSEA). The city’s office stock has tripled since 2014, reaching nearly 137 million sq. ft as of December 2024.
READ MOREIndia’s GCC sector, currently contributing 3.5% to GDP, is expected to grow to over 5% by 2030, driven by AI technologies like DeepSeek. The sector is shifting focus to Tier-2 cities due to rising operational costs in metros, with the 2025 Budget expected to support decentralisation and innovation.
READ MOREIndia’s Global Capability Centres (GCCs) drive demand for co-working spaces, embracing hybrid work models, cost efficiency, and sustainability. With growth expanding to tier-2 and tier-3 cities, co-working spaces offer scalable, tech-enabled, and tailored solutions. This trend opens opportunities for businesses and investors alike, redefining the future of workspaces.
READ MOREAirbus has leased 650,000 sq ft in Bengaluru’s Titanium Tech Park to establish a Global Capability Centre, with a scalability of 800,000 sq ft. Valued at ₹500 crore, this 10-year lease supports Airbus’s innovation efforts in India’s booming aviation market, reinforcing its long-term commitment to the region.
READ MOREChennai is set to host 450+ Global Capability Centres (GCCs) by 2030, up from 250 today, driven by premium office spaces, skilled talent, and proactive policies. CBRE’s report highlights Chennai’s ranking as India’s third-largest GCC leasing market, with robust growth in office absorption and strategic appeal for global corporations.
READ MOREIndia has become a global hub for GCCs, leasing 28.8 million sq ft of office space between Q1 2023 and Q2 2024. Driven by a cost-effective talent pool and world-class infrastructure, GCCs occupy nearly half of India’s prime office inventory, with U.S. firms leading this transformation toward innovation and R&D.
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