Hyderabad: Telangana's capital city Hyderabad is fast becoming a major hub for office space, a joint report released by the CBRE South Asia Private Limited and Hyderabad Software Enterprises Association (HYSEA) suggests to. As per the projections, the city's office space is likely to exceed 200 million square feet by 2030.
The report, titled 'HYSEA Scale @ Hyderabad: Global Technology Destination,' stated that currently, the city's office space accounts for around 15 percent of India's total office space available across major cities and contributes over 18 percent of the country's green-certified office stock.
According to the report, the growth has been attributed to the increasing demand for office space from both domestic and foreign companies. Over the past decade, the construction and availability of office space in the city have increased threefold.
CBRE India Chairman and CEO Anshuman Magazine said Hyderabad's transformation into a global business and technology hub showcases its ability to adapt and evolve with market demands. He further pointed out that the city has become a favorable destination for BFSI (banking, financial services, insurance) and life sciences companies, further boosting the demand for office space.
"Hyderabad’s robust infrastructure, diverse occupier base, and skilled talent pool, position it as a critical growth centre for India’s real estate landscape. With its strong IT/ITeS ecosystem, the city will continue to remain a top choice for GCCs across technology, BFSI, and life sciences, driving office space demand," he asserted.
Gipson Paul, Senior Executive Director, Advisory & Transaction Services, CBRE India, said Hyderabad’s real estate landscape is evolving rapidly, with a strong emphasis on sustainability and eco-friendly practices. Developers are increasingly integrating green spaces and adopting environmentally conscious measures, driven by proactive government policies and incentives, added Paul.
The report highlighted Hyderabad’s position as a preferred destination for businesses seeking dynamic office spaces. Adoption of advanced technologies like artificial intelligence (AI), cloud computing, and data analytics have further fueled the growth, the report added.
In 2024, the absorption reached 1.23 crore square feet, with 31 percent of the demand coming from technology companies. However, the share of tech companies has slightly decreased recently, as businesses from other sectors have shown a growing interest in renting office spaces.
Global Capability Centers (GCCs) have also played a significant role, accounting for 43% of the office space rented last year. While Bangalore leads in the establishment of GCCs, Hyderabad ranks second in GCC leasing in India. In the past year, GCCs leased 5.3 million square feet of office space in Hyderabad, with the city continuing to attract global corporations across industries such as technology, pharmaceuticals, biotechnology, and financial services.
