Pune: Pune’s commercial office market witnessed strong leasing momentum during the second quarter of 2026, with gross leasing volume reaching 3.22 million sq. ft., registering a 54% quarter-on-quarter (QoQ) increase and 13% year-on-year (YoY) growth, according to a Cushman & Wakefield report cited by ANI.
The growth was significantly driven by Global Capability Centres (GCCs), which accounted for approximately 52% of Pune’s total office leasing activity during Q2 2026. GCCs leased around 1.66 million sq. ft. of office space during the quarter, highlighting the growing demand from multinational companies establishing and expanding their operations in Pune.
The strong contribution from GCCs further reflects Pune’s emergence as a preferred destination for global companies looking to build technology, engineering, research and development, analytics, and other high-value business capabilities in India.
Flexible workspace operators also remained active during the quarter and accounted for a significant share of Pune’s office leasing activity. The combination of demand from GCCs and flexible workspace providers contributed to the overall acceleration of the city’s commercial real estate market.
With the strong Q2 performance, Pune’s gross office leasing volume for the first half of 2026 reached 5.31 million sq. ft., demonstrating sustained demand for quality commercial office space across the city.
Among Pune’s major office markets, SBD East emerged as the leading submarket, accounting for approximately 56% of the leasing activity during the quarter. PBD West contributed around 33%, reflecting continued occupier interest across Pune’s established and emerging business corridors.
The latest leasing numbers come as Pune continues to attract global enterprises seeking access to the city’s large technology and engineering talent pool, mature IT ecosystem, educational institutions and expanding Grade A commercial office infrastructure.
The significant share of GCC-led leasing also underlines a broader shift in Pune’s commercial real estate market. As multinational companies increasingly expand their India-based capabilities beyond traditional technology functions, demand for offices supporting engineering, digital transformation, R&D, finance, analytics and other strategic operations is expected to play an important role in Pune’s office market.
With more than half of Q2 office leasing driven by GCCs, Pune continues to strengthen its position as one of India’s important destinations for Global Capability Centre growth and expansion.
Source: Cushman & Wakefield report, as reported by ANI.