Hyderabad witnessed absorption of around 5.2 million SFT in first half of this year and continues to be one of the front runners in terms of commercial leasing activities in India. Around 9.5 million SFT of ‘Grade A’ office space was added to the city’s commercial market and the activity recorded a 12% growth when compared to last year at the same time outperforming pre-pandemic leasing activity showing clearly recovered market sentiments.
The CIRIL Indian Commercial Real Estate Market Report Jan – June 2022 released few days ago said that the IT-BPM (50%) sector continues to be major demand driver followed by BFSI – banking, financial and insurance, engineering and manufacturing sectors at 20% and 10% shares in overall leasing.
Co-working operators (15%) were biggest contributors to gross leasing volume with Madhapur and Gachibowli submarkets continuing to remain occupiers preferred submarket and accounted for 75% of total leasing activity.
