Updated – September 20, 2024 at 12:26 PM.
The CEO of RMZ Office and RMZ NXT, Thirumal Govindraj, highlighted India’s appeal for GCC expansion due to sophisticated, tech-powered workspaces and lower office rentals
(L to R): Thirumal Govindraj, CEO, RMZ Office and RMZ NXT and Akshay Sahni, Country Head, Chevron India at the lease signing ceremony
RMZ offers Chevron Global Technology and Services Private Limited 0.3 million sqft of commercial space to set up its GCC, ‘ENGINE’, in Bengaluru. The project is valued at $1 billion and includes options for future expansion.
“India is becoming the new epicenter for GCC expansion, as these companies seek sophisticated, tech-powered workspaces ranging from 50,000 to 100,000 sq. ft,” said Thirumal Govindraj, CEO of RMZ Office and RMZ NXT.
Office rentals in India are 50 per cent lower than in any other Asian market, and the country has managed to attract $14 billion in investments. As of 2024, India hosts around 2,100 GCCs, reflecting a 31 percent increase from 2023. The demand for these spaces is projected to soar to 30-35 million sq. ft. by 2025, driven by established enterprises looking for multifunctional hubs and emerging players requiring cutting-edge infrastructure, he added.
Currently, RMZ Corporation has 21 million sq. ft. of office projects in various stages of construction and plans to add another 30 million sq. ft. of office space in the next two to three years, expanding its office portfolio to 50 million sq. ft. in six cities.
