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Hyderabad’s office stock has surged to 127 million sq ft, accounting for 14 per cent of India’s total office space. This growth is driven by demand from tech and consulting firms, as also emerging sectors like BFSI and life sciences, according to a report released by CBRE-CREDAI at the inauguration of CREDAI’s Statecon in Hyderabad on Tuesday.
Nearly one-third of the new office stock was added in the last 10 years and 23 per cent of the city’s total office space was leased out during the period.
Over the past five years, the city’s office stock grew 1.9 times, and over the last decade it grew 3.1 times.
The report attributed the growth to a talented workforce, a thriving technology sector, and a booming real estate market.
“The city is poised for significant growth in the commercial real estate sector, with an anticipated addition of 34-37 mn sq ft of investment-grade business parks over the next three years across its key micro-markets,” it said.
“Hyderabad’s success is attributed to its large talent pool, strategic location, investor-friendly policies, and world-class infrastructure. The city has become a magnet for global capability centres (GCCs), accounting for 21 per cent of India’s total GCC leasing between 2022 and the first half of 2024,” the report said.
It said the State attracted $3 billion in foreign direct investment in the last financial year and over $40 billion cumulatively across various sectors since 2014.
The State’s real estate landscape is expanding across multiple urban centres, it said, adding that cities like Warangal, Nizamabad, Khammam, and Karimnagar are poised for growth due to strategic location, improving infrastructure, and burgeoning industrial activity.
Earlier, addressing the gathering, Premsagar Reddy, President, CREDAI Telangana, said Hyderabad was poised for huge development.
“The area between Outer Ring Road and Regional Ring Road will be developed as a semi-urban region. It will help disperse the growth to Tier 2 cities with clusters for manufacturing, city-centric agriculture, and other add-on zones,” he said.
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