MNCs Opt for REIT-Owned Offices to Establish GCCs in India

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Multinational corporations (MNCs) are increasingly choosing institutional-grade office properties, especially those owned by Real Estate Investment Trusts (REITs), as preferred locations for their Global Capability Centres (GCCs) in India. This trend highlights a growing shift toward quality-controlled, professionally managed assets that provide reliable infrastructure, regulatory compliance, and long-term value, especially as companies seek operational resilience and productivity in their offshore operations.

According to the latest insights from Cushman & Wakefield’s Asia REIT Market Insight 2024–25, demand from GCCs is contributing significantly to the success of India’s REIT segment. As of mid-2025, India’s four REITs, three focused on office assets and one on retail, have collectively built and maintained more than 105 million square feet of leased commercial space with average occupancy rates nearing 90%. Notably, REIT-owned office properties account for up to 60% of leasing activity related to GCCs, compared to their 28–29% share of the total commercial office market.

Global Capability Centres’ strategic offshore operations that deliver essential services such as finance, technology, engineering, and analytics are no longer seen solely as cost-saving units. They have evolved into critical hubs of innovation and efficiency. With this shift in role and scale, MNCs are prioritizing office environments that are stable, scalable, and built to international standards. REIT-managed buildings offer just that, with robust amenities, predictable lease structures, and transparency key considerations for global enterprises entering or expanding in India.

India’s cities like Bengaluru, Hyderabad, and Pune continue to lead in GCC expansion, supported by a strong talent pool and improving infrastructure. Institutional office spaces in these cities are drawing heightened interest not only from corporations but also from investors looking for resilient asset classes with predictable income streams. The preference for REIT-backed developments is further reinforced by data showing these properties offer both long-term capital appreciation and yield stability, even in fluctuating economic conditions.

This alignment between business needs and institutional-grade real estate is reshaping India’s commercial property landscape. Developers are now focusing more on high-quality, compliance-ready infrastructure in partnership with REITs, to capture a growing share of MNC demand. This marks a positive shift towards a more transparent and performance-oriented real estate ecosystem, one that supports both corporate growth and investor confidence.

India’s REIT market, while relatively young, is demonstrating maturity in its performance and governance, making it an attractive vehicle for domestic and international capital. As GCCs continue to expand and deepen their operations in India, REIT-owned properties are positioned to remain at the forefront of commercial leasing, ensuring sustained growth for both the sector and the broader economy.