India Takes 70% of APAC Office Leasing in H1 2026

India accounts for over 70% of office leasing across 11 APAC markets in H1 2026, driven by GCC expansion and Grade A demand. Regional leasing rises 3%, while new supply falls 37%, supporting India’s position as Asia-Pacific’s key office market.

India emerges as the dominant office leasing market in the Asia-Pacific (APAC) region during the first half of 2026, accounting for more than 70% of total leasing activity across 11 key markets. The performance highlights the country’s growing importance as a global business and corporate services hub, driven particularly by the expansion of Global Capability Centres (GCCs). 

According to Colliers’ Asia Pacific Office Market Insights H1 2026 report, office leasing across the 11 tracked APAC markets reaches 4.6 million square metres, or around 49.5 million square feet, during January-June. The figure represents a 3% year-on-year increase, with India, Mainland China and Japan collectively accounting for more than 95% of regional office absorption.

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India’s strong performance is supported by sustained demand for Grade A office space. The continued expansion of GCCs, which increasingly handle technology, research, digital engineering and other strategic functions for multinational companies, remains a key driver of demand. The availability of skilled talent and comparatively competitive operating costs continues to strengthen India’s appeal to global enterprises.

The supply environment, meanwhile, is becoming tighter across the region. New office supply across the 11 APAC markets declines 37% year-on-year to approximately 3 million square metres. India and Mainland China account for more than 80% of the new supply delivered during the period. The contraction in supply, combined with strong demand for high-quality workspace, could support occupancy and rental growth in key markets.

India’s office market is also benefiting from strong GCC-led activity at the city level. Bengaluru remains a major destination for global enterprises, while Mumbai, Hyderabad, Chennai and other major business centres continue to attract multinational operations. JLL data shows GCCs accounted for 45.5% of India’s office leasing in Q1 2026, underlining their increasing influence on commercial real estate demand.

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Despite the positive outlook, the market faces risks from geopolitical uncertainty, global trade tensions and rising construction costs. Higher prices for steel, cement and other materials could increase development costs and place pressure on project margins.

India’s dominant share of APAC leasing nevertheless underscores the resilience of its commercial real estate sector. Continued GCC expansion, demand for Grade A offices and growing global business operations are expected to remain important drivers of office demand, while developers and investors will closely monitor supply constraints and broader economic conditions.