CBRE analysis: Hyderabad significant Global Capability Centre hub
CBRE South Asia Pvt. Ltd. found that Hyderabad remained one of the top three locations for Global Capability Centre (GCC) space absorption in the first half of 2023.
The report ‘India’s Global Capability Centres-charting a new technology era,’ discusses GCCs' growth, leasing preferences, and main drivers.
GCCs leased 1.4 million sft in Hyderabad from January to June 2023, with IT Corridor II and Extended IT Corridor as important micro markets. Between January and June 2023 and the previous year, GCC leasing in the city totaled 6 million sft, with 35% of it going to IT.
GCCs in Hyderabad are growing due to abundant talent, rising living standards, decreased costs, and proactive government initiatives. These considerations have drawn GCC activity from technology, life sciences, and consultancy, according to the report.
From 2023 to 2025, the analysis predicts a strong pipeline of new initiatives in rising micro markets in Hyderabad, Delhi, Bangalore, Mumbai, Chennai, and Pune. These initiatives should establish new hubs for exceptional investment-grade office supply.Hyderabad leased 6 million square feet of office space from 2022 to the first part of 2023, 20% of GCCs' total.