Real Estate News: Real estate consultant Cushman & Wakefield has said that the Global Capability Centres (GCCs) accounted for around 40 per cent of the total office leasing activity between January and March of 2026, even as the overall market saw a decline in the same period. 

As per Cushman & Wakefield, the office leasing activity declined in India in the first three months of 2026 (January to March). It said that the net leasing of office space declined 24 per cent on a YoY basis across the top eight cities.

In terms of numbers, a total of 11.51 million sq ft was leased, as per the consultant.

The net leasing activity was a record at 15.08 million sq ft in the first three months of 2025.

The eight cities under discussion here are Delhi-NCR, Mumbai, Bengaluru, Hyderabad, Chennai, Pune, Kolkata, and Ahmedabad.

Real Estate News: Office Leasing Activity Hit

The fall in the office leasing activity was mainly impacted by demand and supply constraints, as per Cushman & Wakefield.

Notably, the net absorption is considered to be a key indicator of real estate demand.

Real Estate News: West Asia War Impacts Office Leasing 

According to Cushman & Wakefield, the expansion of businesses was likely affected by the West Asia conflict. But India's medium to long-term demand outlook remains strong.

Additionally, the delay in completion of office spaces or buildings also impacted the physical realisation of pre-committed demand.

On the other hand, the gross leasing activity of office space increased by 13 per cent on a YoY basis to 21.89 million sq ft in the January to March period.

The Global Capability Centres (GCCs) accounted for around 40 per cent of the total leasing activity between January and March of 2026.

Real estate company Signature Global debt reduced by 77% in FY26