• APAC widens its office demand, stock and supply advantage as Western markets focus on reinvention
• India anchors the region’s talent-led expansion
• Dual‑Core strategy reshapes the structuring of global corporate portfolios
Asia Pacific (APAC) has become the world’s most dynamic office market, driven by younger, ESG‑aligned assets and sustained demand that continues to outpace the U.S. and Europe.
Arpita Srivastava, Managing Director – Global Capability Centre (GCC) Advisory & APAC Tenant Representation at Cushman & Wakefield noted that while Western markets prioritise retrofits and selective recovery, APAC’s growth engine is accelerating, signalling a structural reset in how global companies plan their real estate portfolios.
“Asia Pacific’s rise as the global centre of office demand is deeply rooted in markets like India, where modern stock, talent depth, and innovation capability are converging at scale. As multinational companies rebalance portfolios, the region’s ability to support both capability expansion and workplace modernisation is shaping a new strategic blueprint for global real estate.”
Modern Office Stock Drives APAC’s Structural Advantage
The bulk of APAC’s prime office space was built in the past 10 to 15 years, offering hybrid‑ready, sustainable and technology‑enabled workplaces that align with evolving tenant expectations. According to Cushman & Wakefield’s APAC Office Outlook 2026, the office sector in the region has seen steady absorption and a strong pipeline of high‑quality new supply in the last five years.
Between 2020 and 2025, APAC absorbed nearly 334 million sq ft of office space, outpacing Western markets where absorption remained negative or subdued. Across 40 APAC cities, Grade A office stock has also nearly doubled over the last decade, rising from 1.2 billion sq ft in 2015 to 2.43 billion sq ft in 2025.
In contrast, nearly 70% of office buildings in the U.S. were built before 1990, creating a widening gap between APAC’s modern supply and the aging Western inventory. As U.S. and European markets focus on upgrades and reinvention, this divergence continues to support APAC’s leasing activity, particularly in established urban centres and fast‑growing capability hubs.
India Anchors APAC’s Talent-led Expansion
India remains at the centre of APAC’s growth, accounting for 34% of the region’s office demand (64.2 million sq ft), 39% of stock (809.5 million sq ft), and 51% of new supply (37.4 million sq ft). These volumes reflect India’s pivotal role within APAC’s broader talent-driven expansion.
APAC’s broader momentum is also driven by the region’s unparalleled STEM talent base, which forms one of the world’s largest pools of engineering, digital and technology professionals. This deep talent catchment has become a key driver of corporate portfolio decisions, attracting multinational firms seeking not just operational efficiency but innovation‑led growth.
This talent strength has accelerated the evolution of GCCs across India and Southeast Asia (particularly in the Philippines). Originally designed for back‑office support, GCCs now anchor high‑value functions including AI and analytics, cybersecurity, global product engineering, and platform operations. This shift is directly influencing workplace requirements, fuelling demand for modern, tech‑enabled and collaborative office environments across APAC.
India exemplifies this talent‑led expansion, recording 61.4 million sq ft of net absorption in 2025, underscoring its role as APAC’s structural growth engine. Meanwhile, the region’s talent pipeline continues to strengthen beyond India. Across Southeast Asia, office‑using employment is projected to grow over 21% between 2025 and 2030 with Indonesia, the Philippines, and Vietnam contributing more than 90% of that growth.
Dual Core Reset: The New Framework for Global Portfolios
The emergence of the Dual‑Core Reset model is also gaining traction, where multinational companies structure their portfolios around two complementary hubs:
• Anchor Markets: Mature financial centres offering governance, regulatory proximity and corporate identity.
• Sail Markets: High‑growth APAC talent hubs offering scale, digital capability and operational resilience
An example of this model is JP Morgan, which opened a 2.5 million sq ft headquarters at 270 Park Avenue in New York in late 2025, while simultaneously adding a 2 million sq ft GCC in Mumbai, designed for 30,000 employees. This pairing reflects a broader structural shift: Western hubs anchor identity and governance, while APAC hubs deliver scale and innovation velocity.
As hybrid work matures and digital transformation accelerates, this dual-core model is increasingly shaping global occupier strategies. With APAC’s younger stock profile, deep talent base and capacity for sustained annual growth, the region is well positioned to remain the global benchmark for office performance, capability building and future-ready workplace strategy.
Learn more about Cushman & Wakefield’s GCC Advisory services here.
