Cushman & Wakefield, global property consultant, has launched an advice vertical for Global Capabilities Centre

By Bricksnwall | 2024-06-20

The comprehensive GCC advising service will assist enterprises to enhance their captive-offshore shared services, R&D, and Centres of Excellence (COE) capabilities.

On June 19, international property consultancy Cushman & Wakefield announced the establishment of an integrated advice vertical enabling multinational corporations to strategize and establish Global Capability Centres (GCCs) in Asian nations such as India, the Philippines, Japan, and others.

The company claims to be the first international property consultancy to establish a comprehensive GCC advice solution to assist corporations in developing captive-offshore shared services, R&D, and Centres of Excellence (COE) capabilities.

GCCs, also known as global in-house centres or captives, are large multinational corporations' offshore subsidiaries that execute technological operations.

According to industry estimates, there are approximately 1,600 GCCs in India, with the number likely to exceed 2,400 by 2030.

Matthew Bouw, Chief Executive, Asia Pacific, Cushman & Wakefield, stated, "Our vision is to provide a comprehensive, strategic, and personalised approach that not only solves complex challenges but also empowers our clients with a truly integrated experience."

"We are committed to assisting global businesses and multinationals in creating a seamless enterprise by redefining their GCC strategies. Four years ago, we understood that India was the fourth most profitable country in Asia Pacific. It is currently the most profitable. It now has the second largest workforce base of any country outside the United States. It's the fastest growing, and it's difficult to find a country with a similar economic demographic to this one," said Bouw.

"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," it said in a statement.

According to the company, in addition to traditional real estate services, its GCC advisory will provide support to other companies, ranging from talent management and legal expertise to banking, IT solutions, and more, ensuring a holistic approach to the establishment and growth of GCCs.

India is expected to become the global hub for GCCs, accounting for 60-75% of the industry by 2030. This will result in a huge demand for roughly 50 million square feet of office space over the next two years, unleashing a transformative wave in India's real estate market', said Anshul Jain, CEO of Cushman & Wakefield's India, SE Asia, and APAC Tenant Representation division.

Source: Hindustan Times