Hyderabad to Recover Faster Than Other Cities
Hyderabad continues to show resilience and its real estate dynamics kept up the momentum according to the JLL-CII report. The city’s real estate performance was far better in H1 2020 as compared to other cities in India. Its formal economy was one of the first in urban India that resumed its stabili
Published -
Aug 29, 2020 5:35 AM
Hyderabad continues to show resilience and its real estate dynamics kept up the momentum according to the JLL-CII report. The city’s real estate performance was far better in H1 2020 as compared to other cities in India. Its formal economy was one of the first in urban India that resumed its stability as the lockdown rules were relaxed. Despite the nationwide lockdown, in Q2 2020, Hyderabad continued to witness relatively good office leasing and residential sales. Once construction activities resumed in May 2020, the city also saw the supply of new office buildings in addition to new residential projects. Hyderabad has been one of the forerunners in India in these parameters. This further strengthens investor confidence in the city’s real estate. Through the much-appreciated TS-iPass, ICT Policy and other investment friendly initiatives by the state government, the city has witnessed a major economic growth in the last six years. The focus of the government on business-friendly policies has helped Hyderabad emerge as a one of the leaders despite the global pandemic, impressive investment in the infrastructure sector and the state’s fast track execution tpp has tremendously contributed to the city’s real estate growth. An active real estate market and strong economic growth along with a thriving start-up culture have helped the city to gain one of the leading positions globally. While the state government gave confidence to corporates through its business-friendly policy support in H1 2020, it utilised the lockdown period to upgrade the city’s urban infrastructure and aesthetics by employing labour who otherwise would have been unemployed. Hyderabad recorded the highest office net absorption in 2019 (as a proportion of existing stock) compared to any city globally, while standing among the world’s best-performing cities for prime office rental growth
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