Introduction: India’s Unprecedented Rise in APAC Commercial Realty

India has emerged as the undisputed leader in the Asia-Pacific (APAC) region’s commercial real estate sentiment, driven by a surge in office space demand and the rapid expansion of Global Capability Centres (GCCs). According to a recent News18 report referencing Knight Frank’s Asia-Pacific Commercial Real Estate Sentiment Index, India’s office market is outperforming regional peers, underpinned by robust economic growth, a thriving professional services sector, and a deep, dynamic talent pool.

This article explores the factors propelling India’s commercial realty boom, the implications for professional services companies establishing or expanding Global Capability Centres, and how Han Digital’s unique expertise in talent markets and leadership connections is enabling organizations to capitalize on these opportunities.

India Tops APAC in Commercial Realty Sentiment: Key Findings

• India leads the APAC region in commercial real estate sentiment, with a net positive score of 63% in Q2 2024, outpacing Singapore, Australia, and Hong Kong (Knight Frank, 2024).
• Office demand in India’s top cities (Bengaluru, Hyderabad, Mumbai, NCR) has seen a 20% YoY increase, with net absorption reaching 15.2 million sq ft in H1 2024 (JLL India, May 2024).
• GCCs are a major growth driver, accounting for over 40% of new office leasing in India in 2024 (CBRE India, June 2024).
• Professional services, technology, BFSI, and R&D sectors are fueling the demand for premium office spaces.
• India’s talent market continues to attract global organizations seeking to establish or expand their capability centres, thanks to its large, skilled, and cost-competitive workforce.

What’s Fueling India’s Office Space Boom?

1. Rapid GCC Expansion: India is home to over 1,580 Global Capability Centres as of June 2024 (NASSCOM), with over 100 new GCCs established in the past year alone. These centres are increasingly moving up the value chain, focusing on digital transformation, AI, analytics, and R&D, which require high-quality office infrastructure.
2. Professional Services Growth: Major consulting, legal, and financial services firms are expanding their India operations, seeking proximity to clients and access to a deep talent pool. This has resulted in a surge in demand for Grade A office spaces in metropolitan hubs.
3. Favorable Business Environment: Government initiatives such as Make in India, Digital India, and simplified FDI norms have made India an attractive destination for multinational corporations.
4. Talent Availability and Cost Efficiency: India’s workforce is not only vast but also highly skilled in STEM, finance, and digital domains, offering significant cost advantages over other APAC markets.
5. Infrastructure Upgrades: Ongoing investments in metro rail, expressways, and smart city projects are enhancing connectivity and liveability, making Indian cities more attractive for global businesses.

Recent Research: Office Market Trends and GCC Growth in India (2023-2024)

• JLL India Office Market Update (May 2024): Net office absorption in India’s top 7 cities is projected to cross 40 million sq ft in 2024, the highest in APAC.
• CBRE India GCC Report (June 2024): GCCs now account for 44% of total office leasing in India, with technology and professional services leading the charge.
• NASSCOM GCC India Landscape (2024): India is expected to have 2,000+ GCCs by 2026, employing over 2.5 million professionals.
• Knight Frank APAC Sentiment Index (Q2 2024): India’s commercial realty sentiment is at a 5-year high, with 78% of respondents expecting further rental growth.

These findings underscore India’s dominant position as the preferred destination for global organizations seeking to set up or expand capability centres in APAC.

Implications for Professional Services Companies Establishing GCCs in India

The commercial realty boom and positive sentiment in India have profound implications for professional services firms considering or accelerating their GCC journey:

• Access to World-Class Infrastructure: With a surge in Grade A office supply and flexible workspace options, companies can secure prime locations in business districts, enhancing brand value and employee experience.
• Scalability and Agility: The availability of large, contiguous office spaces allows organizations to scale operations rapidly, supporting hybrid and distributed workforce models.
• Talent Magnet: State-of-the-art workspaces, coupled with India’s vibrant urban culture, help attract and retain top talent in an increasingly competitive market.
• Cost Optimization: Despite rising rents, India’s office space remains cost-effective compared to Singapore, Hong Kong, or Sydney, delivering superior value for global firms.
• ESG and Sustainability: Developers are increasingly offering green-certified buildings, supporting organizations’ sustainability and compliance goals.

Han Digital: Your Strategic Partner in India’s Talent-Driven Growth

As the commercial realty landscape evolves, the ability to attract, engage, and retain top talent becomes the ultimate differentiator for GCCs and professional services organizations. This is where Han Digital brings a unique, data-driven perspective to the table.

Han Digital’s Unique Value Proposition

• Deep Talent Market Intelligence: Han Digital leverages proprietary research and analytics to map talent availability, compensation trends, and skill clusters across India’s key cities. This enables organizations to make informed decisions on location, workforce planning, and office space strategy.
• Senior Leadership Connections: With established relationships with CXOs, HR leaders, and business heads across industries, Han Digital facilitates strategic introductions, leadership hiring, and knowledge sharing to accelerate GCC setup and scaling.
• Customized Talent Solutions: From market entry advisory to end-to-end talent acquisition and employer branding, Han Digital partners with global firms to build high-performing teams that drive innovation and growth.
• GCC Expansion Expertise: Han Digital has supported over 150 GCCs in India, helping them navigate local talent dynamics, regulatory requirements, and competitive benchmarking.
• Future-Ready Workforce Strategies: With insights into emerging skills (AI, cloud, cybersecurity, data science), Han Digital helps organizations future-proof their talent pipelines in a rapidly evolving business environment.

Case Study: Enabling a Fortune 500 Professional Services Firm’s GCC Expansion in India

A leading US-based professional services company partnered with Han Digital in 2023 to establish a new GCC in Hyderabad. Leveraging Han Digital’s talent market mapping and leadership network, the firm was able to:

• Identify the optimal micro-market for office space based on talent density and cost parameters.
• Hire a local leadership team within 90 days, including a Centre Head, HR Director, and Technology Leads.
• Develop a compelling employer brand campaign to attract top digital and analytics talent.
• Achieve 30% faster ramp-up compared to industry benchmarks, with over 600 professionals onboarded in the first year.

This case underscores the critical role of talent intelligence and strategic partnerships in maximizing the value of India’s commercial realty boom for global organizations.

2025 Outlook: What Lies Ahead for India’s Commercial Realty and GCC Ecosystem?

Looking ahead to 2025 and beyond, several trends are set to shape India’s office market and its attractiveness for global capability centres:

• Continued Rental Growth: Prime office rents in Bengaluru, Hyderabad, and Pune are projected to rise by 8-10% in 2025, reflecting sustained demand from GCCs and tech firms (Knight Frank, May 2024).
• Tier 2 City Emergence: Cities like Coimbatore, Ahmedabad, and Jaipur are witnessing increased interest from GCCs seeking cost arbitrage and untapped talent pools.
• Flexible and Hybrid Workspaces: Demand for managed offices and coworking spaces is expected to grow by 25% in 2025, supporting agile workforce models.
• Focus on Sustainability: Over 60% of new office supply in 2025 will be green-certified, aligning with global ESG mandates.
• Digital-First Talent Strategies: Organizations will prioritize digital skills, leadership development, and diversity to stay competitive in India’s dynamic market.

How Han Digital Empowers GCCs and Professional Services Firms in India

As India cements its leadership in APAC’s commercial realty and talent landscape, Han Digital stands out as the preferred partner for global organizations seeking to:

• Navigate complex talent markets and identify the right locations for GCCs.
• Build high-impact leadership teams and scalable workforce strategies.
• Accelerate time-to-market through data-driven talent acquisition and employer branding.
• Stay ahead of market trends with actionable insights and thought leadership.

With a proven track record, deep industry connections, and a relentless focus on innovation, Han Digital is uniquely positioned to help professional services companies unlock the full potential of India’s commercial realty boom.

Conclusion: Seize the Opportunity in India’s Booming Office Market

India’s ascent as the APAC leader in commercial real estate sentiment is no accident. It is the result of a unique confluence of economic growth, talent availability, infrastructure upgrades, and a vibrant ecosystem of GCCs and professional services firms. As organizations worldwide look to leverage India’s advantages, the role of expert partners like Han Digital becomes indispensable in navigating the complexities of talent, leadership, and business expansion.

Whether you are planning to establish a new GCC, expand your professional services footprint, or optimize your talent strategy in India, now is the time to act. Contact Han Digital today to unlock new growth opportunities in the world’s most dynamic office market.

Frequently Asked Questions (FAQs)

1. Why is India leading APAC in commercial realty sentiment?

India’s leadership is driven by robust office demand from GCCs, professional services, and technology sectors, combined with a strong talent pool and favorable business environment.

2. Which cities are the top destinations for GCCs in India?

Bengaluru, Hyderabad, Mumbai, NCR, and Pune are the leading cities, with emerging interest in Tier 2 locations.

3. How does Han Digital support GCCs and professional services firms?

Han Digital offers talent market intelligence, leadership hiring, workforce planning, and employer branding solutions tailored to the needs of global organizations in India.

4. What are the key trends for India’s office market in 2025?

Rising rents, expansion into Tier 2 cities, growth of flexible workspaces, and a focus on sustainability and digital skills will define the market.

5. How can my organization benefit from partnering with Han Digital?

Han Digital’s unique insights, industry connections, and customized solutions help organizations accelerate GCC setup, attract top talent, and achieve sustainable growth in India.