Office space leasing reached a record of 82.6 million square meters in the top 9 cities last year: CBRE

According to CBRE, office space leasing reached a record 82.6 million square meters in nine major cities last year, thanks to better demand from domestic and foreign companies.Real estate advisor CBRE said in a statement on Tuesday: “Office leasing activity reached a record high for the third consecutive year in 2025, reaching 82.6 million square meters, up 1 percent year-on-year.”

The cities tracked by CBRE are Delhi-NCR, Bengaluru, Mumbai, Chennai, Hyderabad, Pune, Kolkata, Ahmedabad and Kochi.The consultant noted that office demand is driven by steady investments and the portfolio expansion strategies of global and domestic companies.

“The Indian office market continues to demonstrate strong fundamentals despite a rapidly changing global context, characterized by geopolitical uncertainties and challenges surrounding cross-border talent mobility,” said Anshuman Magazine, Chairman & CEO, India, South-East Asia, Middle East & Africa at CBRE.

He said the global companies are expected to increase their footprint in India through their Global Capability Centers (GCCs). These centers are expected to account for 35 to 40 percent of the total space taken up by 2026.

“Despite the existing uncertainties, global companies continue to view India as a strategic destination for their multi-functional hubs that deliver enterprise-level innovation and leadership,” Magazine said. In 2025, CBRE noted that technology companies and BFSI companies dominated office leasing activity.

Ram Chandnani, Managing Director, Leasing, CBRE India, said office leasing momentum could spread to tier-II cities as occupiers strategically expand their footprint beyond gateway hubs.

Commenting on the data, Ramesh Nair, CEO and MD, Mindspace REIT, said: “2025 was a record year for the Indian office market, driven by strong demand from the GCC, high leasing activity and improving occupancy rates. Also, growing industrialization of the sector through REITs and global capital has significantly improved quality, governance and transparency.”

These factors have positioned Indian offices as one of the best asset classes for stable long-term returns, he added.

Ashwin Shrivastava, Sr. VP Leasing, Knowledge Realty Trust, said, “The cities of Bengaluru, Hyderabad and Chennai account for 50 percent of the leasing in the country. The leasing power is driven by technology and GCCs building long-term capabilities in India.”

South India offers a deep talent pool and specialized experts who provide end-to-end support to help set up and scale GCCs with confidence, he added.