Big Deals, Big Growth: GCC Demand propels India’s Commercial Real Estate in H1 2026

Driven by robust demand from Global Capability Centres (GCCs), tech firms, and multinational corporations, India’s commercial real estate sector saw strong leasing activity in the first half of 2026. According to Knight Frank India, overall office space absorption reached 48.0 million sq. ft. across eight top markets, with large transactions—defined as spaces of 100,000 sq. ft. or more—making up 59% (28.2 million sq. ft.) of total volume. Bengaluru led the market with 10.1 million sq. ft. in large-format deals, while Hyderabad and NCR followed closely, each securing 4.9 million sq. ft. This strong preference for high-quality Grade A office parks underscores occupiers' commitment to acquiring scalable, modern, and tech-ready workspaces. Hyderabad stood out as the fastest-growing hub for large deals, registering a impressive 63% year-on-year surge in spaces over 100,000 sq. ft.—climbing from 3.0 million sq. ft. in H1 2025 to 4.9 million sq. ft. in H1 2026. Meanwhile, Pune and Mumbai recorded 3.8 million sq. ft. and 3.1 million sq. ft. in large leases, respectively. Mid-sized office deals (50,000 to 100,000 sq. ft.) made up 19% of total leasing at 9.0 million sq. ft., while smaller spaces under 50,000 sq. ft. accounted for 22% (10.8 million sq. ft.). Ongoing expansion by global occupiers is set to drive further institutional investment, cementing India's standing as a leading global business hub.