Cushman & Wakefield, a leading global real estate services firm, announced the launch of its GCC Advisory, a first-of-its-kind service to empower global multinationals in developing their captive-offshore Shared Services, R&D, and Centers of Excellence (COE) capabilities.
This unique offering intends to offer an alternate to the traditional Build Operate Transfer (BOT) model by providing a full-spectrum, Assisted D.I.Y solution that is cost-effective and is tailored for clients who wish to establish their own GCCs. By leveraging a robust network of partners, Cushman & Wakefield’s Assisted D.I.Y. model, will enable clients to strategically navigate the complexities of global innovation, cost optimisation, sustainability and cultural integration.
Going beyond traditional real estate services, Cushman & Wakefield’s GCC Advisory, through a strong ecosystem of partners, will encompass a full spectrum of support - from talent management and legal expertise to banking, IT solutions and more – ensuring a holistic approach to the establishment and growth of GCCs.
India has repeatedly demonstrated resilience through three major black swan events in the last 25 years and the country has pivoted yet again to emerge as the largest GCC hub in the world post-COVID. From being the outsourcing epicentre and call centre of the world 25 years ago, to a cradle of global innovation today, the GCC landscape in India has witnessed remarkable growth. The country has over 1600 centres as of 2023, with many new GCCs being established and the existing ones looking to expand in the near future.
According to Cushman & Wakefield research, around 40% of the GCCs set up in the last two years in India are global R&D/Innovation centres, highlighting the country’s transformation into a prominent global innovation hub. With a current market size of US$46 billion and a workforce of 1.6 million, GCCs occupy almost 1/4th of all Grade A office inventory and also account for over 20% annual leasing volume.
While India is already home to around 50% of GCCs, this number is projected to exceed 2400 by 2030, fuelled by India’s digital prowess, vast talent pool, thriving start-up ecosystem, competitive real estate pricing and supportive government policies.
This has set the stage for the launch of a dedicated GCC Advisory, a strategic addition to Cushman & Wakefield’s suite of services for clients. Cushman & Wakefield’s GCC Advisory aims to provide a tailored and integrated-suite of services designed to meet the unique needs of each client through:
Experts Across Geographies: Expert advisors to guide the firms across regions to deliver comprehensive GCC solutions.
Integrated Service Delivery: End-to-end advisory and execution support across all aspects of real estate decision-making.
Assisted DIY model: Delivered through an ecosystem of partners empowering clients to develop their strategies for innovation, cost optimisation, sustainability, and culture. This includes access to talent management, legal, banking, payroll, and other essential services.
Arpita Srivastava, who is currently Executive Director & Head – APAC, will step up to lead the GCC Advisory, based in New York. VS Sridhar, who is currently Managing Director- Chennai and Kochi, will take additional responsibility of leading GCC Advisory operations, based in Chennai.
