Smaller and medium-sized companies in the GCC region favor shared workspaces for their flexibility and minimal holding of assets

In the ever-evolving business landscape, India's co-working spaces are making a significant impact, particularly in the realm of Global Capability Centres (GCCs). With a total addressable market for GCC workplaces valued at approximately $4.32 billion in 2025, the market is projected to grow at an annual compounded growth rate of 12-13%, reaching $1.2-1.7 billion by 2030[1].

Currently, 600 GCC clients are utilising co-working spaces in India, with these spaces adding between 80,000 to 120,000 new seats for GCCs annually[1]. Notably, prominent co-working providers like IndiQube serve over 300 GCCs, and Awfis works with more than 100 GCC clients[1], suggesting a substantial portion of the 1,700+ GCCs in India as of 2025 leverage co-working.

So, what is driving this trend?

Flexibility and Scalability: Co-working spaces offer plug-and-play infrastructure and flexible lease terms, allowing GCCs to scale workspaces up or down quickly in response to changing talent demands and project requirements[2][1].
Strategic Location Access: The trend is shifting from relocating talent to established corporate hubs to bringing workspaces closer to where talent resides, including Tier-2 and Tier-3 cities. Co-working operators offer hub-and-spoke models, enabling GCCs to attract and retain talent by providing workspaces near their homes[1].
Technology-Enabled Facilities: Modern co-working operators provide tech-enabled, collaborative, and amenity-rich environments that support hybrid and dynamic working models, boosting workforce productivity and fostering innovation[2][1].
Cost Efficiency: Compared to traditional leased spaces, co-working reduces upfront capital expenditure and operational costs while maintaining access to high-quality work environments[2].
Growing Market Adoption: Co-working spaces currently account for about 22% of the commercial office space market share in India, heavily influenced by demand from GCCs and IT-ITES sectors[3].

This shift is reshaping India's commercial real estate landscape by enabling GCCs to grow agilely and leverage India's cost and talent advantages more effectively[1][2][3][4]. Some mid-sized GCCs have expanded to multiple cities with co-working centers, and providers like IndiQube have clients such as Navex, GEP, Visionet, and Perforce. Nearly 20% of IndiQube's portfolio is housed within tech parks.

GCC clients of IndiQube, such as Enphase Energy, have grown substantially with IndiQube over the years, expanding from 67,000 sq ft to 143,000 sq ft. On the technology side, GCCs require AI-ready and cloud-compatible infrastructure, global-standard conferencing systems, and sensor-based tools for monitoring occupancy, energy, and air quality. In addition, GCCs value facilities such as cafeterias, gyms, gaming zones, and wellness spaces for attracting and retaining top talent.

In an interview, Amit Ramani, Chairman & MD of Awfis Space Solution Ltd, stated that co-working spaces offer agile and speedy solutions to workplace needs, which are crucial for GCCs who scale in weeks, not months. Rishi Das, Co-founder & CEO, emphasised that GCCs value ease of doing business, flexibility to scale, and minimal capital expenditure commitment. GCCs are uncompromising when it comes to compliance, security, and employee experience.

In conclusion, the adoption of co-working spaces by GCCs is transforming the Indian commercial real estate landscape, offering a flexible, cost-efficient, and technologically advanced solution for these rapidly expanding organisations.

References:

[1] Nasscom. (2025). Co-working spaces: The new trend for GCCs in India. Retrieved from https://www.nasscom.in/research/co-working-spaces-new-trend-gccs-india

[2] IndiQube. (2025). Why GCCs prefer co-working spaces. Retrieved from https://www.indiqube.com/gcc-preference-co-working-spaces

[3] JLL. (2025). India's co-working market: A growing force. Retrieved from https://www.jll.co.in/research/india-s-co-working-market-growing-force

[4] Awfis. (2025). The rise of co-working spaces for GCCs in India. Retrieved from https://www.awfis.com/the-rise-of-co-working-spaces-for-gccs-in-india

Smaller and medium-sized companies in the GCC region favor shared workspaces for their flexibility and minimal holding of assets