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Global Capability Centre: In Jan-Mar 2024, GCCs leased ~ 29% of the total office space leased in India. Notably, the total leasing in the GCC segment stood at 4.2 million sq ft in Q4 FY24.
GCC leasing in India surged by 17% in FY 2023-24, driven by key sectors, with projections indicating continued growth.
DP World leases 150,000 sq ft office space in Navi Mumbai's Aurum Q Parc tower for its global capability centre. The deal involves 5% annual rental escalation, totaling Rs 65 crore. Key tenants include ICICI Bank, Mizuho Bank, Lloyds Register, and Axis Securities.
Currently, a third of the company's total global workforce of 15,000 is based in capability centres in Bengaluru and Hyderabad. Broadridge doesn't have an India business yet but only operates the two capability centres.
Ascott, a Singaporean hospitality brand under CapitaLand Investment, aims to venture into India's co-living sector alongside its expansion of serviced apartment offerings in the country. Vincent Miccolis, Ascott's Managing Director for Middle East, Africa, Turkey & India, said Ascott eyes Delhi as an ideal market for its co-living concept.