New Delhi, Nov 27 Noida is poised for a structural shift in its commercial real estate market by 2028 as institutional or developer‑owned Grade A+ projects are likely to outpace fragmented strata office supply, a report said on Thursday.
Leasing momentum of the city's office assets remains strong, with 3.3 million sq ft of gross leasing between January and September 2025 and projected to reach 4.7 million sq ft by end of the year, the report from Cushman & Wakefield said.
"While 2026 will see over 2.5 million sq ft of strata-led office completions, the trend reverses sharply by 2028, when institutional or developer-owned Grade A+ projects rise to nearly 2.9 MSF, far outpacing strata formats which fall to around 0.28 million sq ft,” the statement said.
The consultancy said that Noida is a critical engine for economic development, driven by strategic infrastructure projects, strong policy initiatives, and a competitive STEM talent pool.
With Phase 1 of Noida International Airport (NIA) 95 per cent complete and expected to commence operations by December 2025, alongside several other major infrastructure upgrades, Noida will enjoy high global connectivity with the economic and real estate trajectory of the city transformed.
Noida’s total office stock stood at 43.4 million sq ft, including 26.6 million sq ft of Grade A+ space as of Q3 2025, and investment‑grade office assets have risen 40 per cent over five years.
Global Capability Centres (GCC) contributed 1 million square ft. in the first nine months and expected to close at 1.28 MSF by December 2025.
"Infrastructure upgrades, especially the Noida International Airport and enhanced metro and expressway connectivity, combined with strong policy support and a deep STEM talent base, are creating a powerful foundation for long-term expansion,” said Supriya Chatterjee, Managing Director, North, Cushman & Wakefied.
Uttar Pradesh government has introduced targeted policy support for IT, digital services and high-value operations, offering fiscal incentives, streamlined approvals and infrastructure support that drew new GCC establishments.
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