India, April 24 -- Bengaluru's office real estate market recorded a 28% drop in gross leasing to 4.8 million sq ft during January to March 2025, compared to 6.7 million sq ft in the same period a year ago, according to a report by Cushman & Wakefield.

The net leasing of office space declined in Bengaluru by 33% to 2.4 million sq ft in January-March 2025, compared to 3.6 million sq ft in the corresponding period of the last year.

"While quarterly gross leasing was lower on an annual basis, the city remained the premier destination for global capability centres (GCC) of multinational corporations. GCC transactions accounted for around 48% of quarterly gross leasing with multinationals across various sectors taking up large spaces," the re...