New Delhi, July 14 (IANS) India’s office market delivered resilient leasing of 37.9 million sq. ft. in the first half of 2026, with Global Capability Centres already on track to match or surpass last year’s record levels, a report said on Tuesday.

“In H1 2026, GCCs have already leased 15.8 million sq. ft, on track to match and potentially surpass last year’s record levels, given ongoing space discussions and new entrants planning on setting up their centres in the country during the year,” the report from JLL said.

Gross leasing in Q2 reached 16.45 million sq. ft., led by the tech sector with a 28.8 per cent share, driven largely by global firms.

Flex operators followed closely behind with a 28.4 per cent share, while manufacturing or industrial and BFSI accounted for 10.8 per cent and 10.2 per cent, respectively.

Driven by a strong performance by flex operators, domestic occupiers saw their share in the quarterly leasing hit 47.3 per cent, the highest in last 9 quarters, the report added.

India’s office market demonstrates maturity as global occupiers take a measured approach amid AI-driven business transformation and evolving geopolitical dynamics, the report said.

Companies remain fully invested in India’s growth potential, using Q2 2026 to strategically right-size portfolios and align headcount projections with their long-term vision.

India’s standing as the largest GCC ecosystem globally remains unmatched and GCCs continue to grow at a record pace in the country.

“With 41.7 per cent share of leasing activity and on track to surpass 2025’s record with 15.8 million sq. ft already leased in H1 2026, we have seen a strategic shift in the sector.” said Radha Dhir, Chief Executive Officer, India, JLL.

Bengaluru continued to lead gross leasing activity, with 24.6 per cent share of Q2 gross leasing, followed by Delhi NCR, Pune and Chennai.

“Bengaluru remained the top office destination for global firms, with the city taking a 31.6 per cent share of all leasing activity by foreign occupiers in Q2,” the report said.

Net absorption for H1 2026 hit a decade-high of 26.9 million sq. ft, underscoring the rapid pace of headcount expansion by occupiers with India as the focal point of growth, underpinned by its strong fundamentals, the report noted.

—IANS

aar/ag