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Sipping coffee in a café surrounded by Singapore’s skyline, Anshuman Magazine of real estate services firm CBRE told me that global capability centers (GCCs) accounted for 38% of office space demand in India in the third quarter.
“The demand for office space is at a record high in the country,” Magazine, the head of India, South-East Asia and Middle East & Africa markets, said.
He added that the demand for GCCs — which are offshore offices where multinational firms run operations ranging from finance or IT — will continue. Three months ago, his firm made a hire in the U.S. dedicated solely to helping clients establish GCCs in India.
