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Hyderabad office space stock crosses 90 mn sq ft in Q3 2021

The city is expected to add about 30-35 million sq ft of investment-grade business parks over the next three years, per a CBRE report.

Extensive government policies and efficient urban infrastructure have helped in the doubling of Hyderabad’s investment-grade office stock 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, per a report.

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, said the report titled The Next Normal – Reimagining Hyderabad’s Real Estate Landscape by CBRE South Asia.

According to CBRE’s recent ‘APAC Future of Office Survey’ report, 47% of occupiers across APAC have started encouraging their employees to return to offices, alongside providing an option to work from home.

CBRE believes the shift in working patterns indicates that varied hybrid work models are likely to be the new norm. CBRE’s latest report indicates that most occupiers are expected to require employees to spend a majority of their working week in the offices across APAC.

“The pandemic influenced the way businesses function and their overall strategies. They have adopted new working models that keep workplace flexibility at the centre, balancing employee benefits and business profitability.

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"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,” said Anshuman Magazine, chairman, India and South-East Asia, Middle East & Africa, CBRE.
Moneycontrol News
first published: Oct 22, 2021 01:50 pm

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