Hyderabad’s Office Space Soars on Tech Demand

Hyderabad is witnessing a remarkable surge in its real estate sector, driven predominantly by its burgeoning technology industry and a highly skilled workforce. The city now boasts an impressive 127 million square feet of office space, representing 14 per cent of the national total. This expansion underscores Hyderabad’s pivotal role in India’s commercial real estate landscape.

Recent data from a CBRE-CREDAI report, presented at CREDAI’s Statecon event in Hyderabad, highlights that nearly one-third of the city’s office space has been developed over the past decade. The report indicates that 23 per cent of Hyderabad’s office stock was leased during this period, reflecting a robust demand from various sectors, including technology, consulting, banking, financial services, insurance (BFSI), and life sciences. Over the last five years alone, Hyderabad’s office space has grown by 1.9 times, while the last decade has seen an impressive 3.1-fold increase. This exponential growth is attributed to the city’s attractive blend of factors: a vibrant tech sector, a highly educated workforce, and a thriving real estate market.

Kokapet, a prominent area in Hyderabad, exemplifies this growth. Its strategic location near major IT hubs and the Outer Ring Road has made it a highly sought-after real estate destination. The rapid development in Kokapet highlights the city’s broader trend towards expansion and modernisation in response to rising demand from tech firms and other industries. The dynamic growth of Hyderabad’s real estate market is a testament to the city’s evolving role as a major business and technology hub. As demand continues to drive development, Hyderabad is set to remain a key player in India’s real estate sector, offering substantial opportunities for investors and businesses alike.