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Time of India

Flexible office space operators emerge as top choice for new GCCs in India

New global capability centres (GCCs) setting up operations in India are increasingly preferring flexible workspace operators-which offer short lease tenure with options to reduce or increase the space as per evolving needs of their clients-amid global uncertainties. Major flexible space operators such as Awfis, CorporateEdge and Smartworks report a significant uptick in demand from GCCs, prompting some to open separate verticals to cater to these multinational clients, according to various stakeholders. "A growing trend in the GCC space is the shift towards flexi-working and managed office spaces , particularly among first-time entrants and smaller players in emerging sectors like fintech, emerging tech, and deeptech," said Manoj Marwah, financial services GCC consulting leader at EY India. He said the preference for flexible office operators-initially accelerated by the pandemic-has now become a structural shift, as flexible workspaces enable speed and agility during the early phase of GCCs, allowing them to 'go-live' much faster. At CorporateEdge, GCCs comprise 35% of the portfolio, with the share expected to rise to 50% soon, driven by ongoing talks with companies planning to establish GCCs in India . At Awfis, GCCs make up 25% of the client base and account for 15% of new leasing. Live Events Zinnov, a management consultancy that offers GCC-as-a-service, has set up operations in Hyderabad.