Led by global capability centres (GCCs), the year 2024 marked a watershed year for the banking, financial services and insurance (BFSI) sector in India's commercial real estate, which leased 13.45 million square feet (sq ft), claiming a 17.4 per cent share of the annual leased space, a report showed on Monday.
Notably, the BFSI segment leased 31 million sq ft office space in the three-year period of 2022-2024, higher than even the 29 million sq ft leased in the previous six-year period of 2016-2021, according to a report by JLL.
Global BFSI firms accounted for a significant 59.0 per cent share of space leased by the BFSI sector in the last three years.
India's strong talent pool, digitisation push, financial inclusion, and consumption potential are key drivers of the BFSI sector's growth.