Global Capability Centers fueling the rise of Grade A office space in Gurugram

financialexpress.com:

Gurugram, one of the most significant cities amongst top metro cities, has become a focal point for Grade A office spaces, with a unique catalyst driving this surge—Global Capability Centers (GCCs) that global companies set up offshore to access specialized high-skill talent to ensure sustainable business growth. These GCCs, synonymous with innovation and research and development (R&D), are transforming India’s economic orientation.

The technology sector, in particular, has found a robust partner in India, given its established credentials as an outsourcing/offshoring hub. According to a Knight Frank India report, the office space transaction volume of GCCs witnessed an impressive 58 percent surge in 2023, escalating from 13.2 million sq ft in 2022 to 20.8 million sq ft. This surge in GCCs is emblematic of the growing confidence in India’s economic stability, attracting corporate investments and reshaping the landscape of office spaces.

Gurugram’s business environment is highly conducive, with Grade A buildings boasting excellent infrastructure. Its proximity to the national capital, coupled with a well-connected transportation network featuring highways, and metro facilities, positions it as an accessible and convenient business destination from all parts of Delhi-NCR. This has attracted GCCs to set up their offices here.

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Additionally, Grade A buildings offer a prime location, tech-driven parking facilities, and architecturally stunning structures with modern designs, and contemporary aesthetics. Another factor driving the demand for Grade A buildings amongst GCC occupiers is the sustainably designed green buildings.