Bengaluru tops office leasing at 21.8 mn. sq. ft. in CY 2024 across top 9 cities
Global Capability Centres (GCC) leasing.
ET Year-end Special Reads
Buying a home in 2025? Here's how property market can shape up
18 top stock picks for 2025 from 6 leading brokers
Five big bangs that shook the corporate world in 2024
Additionally, Bengaluru saw the highest supply of office space, with 14 million square feet available in 2024, according to CBRE South Asia Pvt. Ltd., a real estate consulting firm.
Global firms have actively established and expanded their GCC operations by capitalising on the city’s skilled talent pool and a favourable business climate.This growth momentum is expected to persist into 2025, with new entrants setting up global centres and existing firms scaling their facilities. Companies from sectors including Technology, Engineering & Manufacturing and BFSI would likely drive demand for both traditional and flexible office spaces for their GCCs, with continued demand from niche sectors such as automobile, semiconductors, and life sciences.
In CY 2024, Technology, Flexible space operators and Engineering & Manufacturing(E&M) firms were the top three sectors that led office leasing in Bengaluru. Leasing by Technology firms stood at 6.9 mn. sq. ft., flexible space operators leased 3.6 mn. sq. ft., while leasing by E&M firms was recorded at 3.0 mn. sq. ft.
Key transactions recorded during the fourth quarter of 2024 include the following: Texas Instruments leased 550,000 square feet in the Ariel Block of Bagmane Cosmos Business Park; ARM India leased 407,300 square feet in the Taurus 4
