Mumbai, Jun 19 (PTI) Global property consultant Cushman & Wakefield on Wednesday announced the launch of an integrated advisory platform to help multi-national companies set up Global Capability Centres (GCCs) in India, Philippines and some other countries.
At present, there are around 1,600 GCCs operational in India and the number is expected to rise exponentially to more than 2,400 by 2030.
Cushman & Wakefield said it is the first international property consultants to launch an integrated GCC Advisory service to empower global multinationals in developing their captive-offshore shared services, R&D, and Centers of Excellence (COE) capabilities.
Commenting on the launch, Matthew Bouw, Chief Executive, Asia Pacific, Cushman & Wakefield said, “We are committed to helping global businesses and multinationals build a seamless enterprise by reinventing their GCC strategies.” He said the vision is to provide a comprehensive, strategic, and personalised approach that not only solves complex challenges but also empowers its clients with a truly integrated experience.
Stating that around 100-120 GCCs would be established in India every year, Bouw said the demand for such integrated GCC advisory is huge.
Anshul Jain, Chief Executive, India, SE Asia & APAC Tenant Representation, Cushman & Wakefield, said, “India is poised to become the global epicentre for GCCs, capturing 60-75 per cent of the market by 2030.” Jain said this would generate a significant demand for nearly 50 million square feet of office space in the next two years, igniting a transformative wave in India’s real estate sector.
“We anticipate a surge in ESG-compliant, high-quality developments, coupled with greater transparency, as the industry rapidly modernises,” he said.
Jain said the company would rope in partners on its integrated platform to provide comprehensive services, ranging from talent management and legal expertise to banking, IT solutions and more.
Cushman & Wakefield is expecting clients mainly from the US and Japan for its new services, which it said would help in further boosting the company revenue.
To acquire a business, it would target companies having turnover of less than USD 10 billion.
Cushman & Wakefield said its model will enable clients to strategically navigate the complexities of global innovation, cost optimisation, sustainability and cultural integration.
With a current market size of USD 46 billion and a workforce of 1.6 million, GCCs occupy almost one-fourth of all Grade A office inventory in India and also account for over 20 per cent of annual leasing volume.
While India is already home to around 50 per cent of GCCs, the consultant said this number is projected to exceed 2,400 by 2030, fueled by India’s digital prowess, vast talent pool, thriving start-up ecosystem, competitive real estate pricing and supportive government policies.
Arpita Srivastava, Executive Director & Head, APAC, will step up to lead the GCC Advisory, based in New York.
VS Sridhar, Managing Director- Chennai and Kochi, will take additional responsibility of leading GCC Advisory operations, based in Chennai.
Cushman & Wakefield, which is listed on the New York Stock Exchange, is a leading global commercial real estate services firm for property owners and occupiers with approximately 52,000 employees in nearly 400 offices and 60 countries.
In 2023, the firm reported revenue of USD 9.5 billion across its core services of property, facilities and project management, leasing, capital markets, and valuation and other services. PTI MJH DR
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