Hyderabad, September 23:
In the first half of 2023, Hyderabad has emerged as a hotspot for large office space deals, accounting for a remarkable 50% of transactions involving spaces measuring 100,000 sq ft or more, as reported by Knight Frank India, a prominent property consultancy firm. During this period, a substantial 1.47 million sq ft of office space was transacted in the city.
This surge in demand for expansive office spaces can be attributed to several factors. Firstly, there has been a notable uptick in demand from Indian businesses. Secondly, the confidence of Global Capability Centers (GCC) operating in Hyderabad has been on the rise. This newfound optimism is largely driven by emerging sectors within the Hyderabad office market.
Furthermore, the data reveals that in H1 2023, approximately 35% of transactions, equivalent to 1.04 million sq ft, took place in office spaces measuring less than 50,000 sq ft. Mid-sized offices, spanning between 50,000 sq ft and 100,000 sq ft, constituted 15% of the transactions, amounting to 0.43 million sq ft in total. These statistics underscore the city’s dynamism in catering to diverse office space needs across different size categories.
