India's Office Market Recorded Its Strongest Quarter with Gross Leasing of 24.6 Million Sq Ft
Flexible workspace operators and GCCs drove 63% of Q2 leasing as gross office absorption hit a record 24.6 million square feet, CBRE said.
- India's office market achieved record gross leasing of 24.6 million square feet in Q2 2026, pushing half-year absorption to an all-time high of 45.5 million square feet, according to CBRE.
- Strong demand from Global Capability Centres and flexible workspace operators fueled this growth, while developers simultaneously delivered a record 21.0 million square feet of new office space during the quarter.
- Fortune 500 companies leased 6.8 million square feet during the quarter, accounting for 28% of total leasing, while occupiers prioritized quality and sustainability across the market.
- Bengaluru, Delhi-NCR, and Mumbai accounted for 61% of total absorption in H1 2026, cementing their status as the nation's primary hubs for corporate real estate activity.
- CBRE expects GCCs to drive over 40% of total space absorption in 2026, with analysts anticipating sustained rental appreciation across core micro-markets as investment-grade supply remains tight relative to demand.
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India's office market recorded its strongest quarter with gross leasing of 24.6 million sq ft
India's office market recorded its strongest quarter ever in Q2 2026. Gross leasing reached an all-time high of 24.6 million square feet. Developers matched this pace with 21 million square feet of new completions. Global capability centers and flexible space operators drove significant leasing activity. This strong momentum is expected to continue throughout the remainder of 2026.
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Delhi-NCR posts record flex office demand in Q2: CBRE
Delhi-NCR recorded its highest-ever quarterly flexible office space take-up in the second quarter of 2026 (April-June), with flexible space operators accounting for 45 per cent of the region's total leasing of approximately 3.6 million square feet (msf). The data in the latest CBRE report titled 'India Office Figures' for Q2 2026 showcased a strong shift toward adaptable workspace options in the commercial real estate market.
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