Hyderabad's Office Stock Crosses 90 Millon Sq. Ft
Over the years, Hyderabad has positioned itself in the national spotlight by attracting large-scale investments in industries such as IT / ITeS, life sciences, electronics, etc. Witnessing a rising office demand and huge influx of supply, especially along IT and Extended IT Corridor, Hyderabad’s investment-grade office stock has doubled from 2016 – crossing over 90 million sq. ft. at the end of Q3 2021. Continuing the momentum, the city is expected to add about 30-35 million sq. ft. of investment-grade business parks over the next three years. With Hyderabad succeeding in containing the pandemic and relaxing restrictions on business and social activities, corporates have now slowly started to reopen their offices. Anshuman Magazine, Chairman, India & South-East Asia, Middle East & Africa, CBRE, said, “The pandemic influenced the way business’s function, and their overall strategies. They have adopted new working models that keep workplace flexibility at the centre, balancing employee benefits and business profitability. The demand for physical office spaces will continue to rise as employees look forward to normal workdays; with mass vaccination propelling further sectoral growth. Hyderabad’s policy initiatives along with efficient urban infrastructure are expected to further aid the region’s overall development”. As the business environment is likely to continue to improve, increased adoption of technology, hybrid workplaces, hub-and-spoke models, flexible workspaces etc. are expected to shape the next normal of working across India, particularly in Hyderabad.
Tags : News/Views Hyderabad CBRE Anshuman Magazine urban infrastructure Employees #IT #ITES Business Parks Office Stock Hybrid Workplaces