Facebook expands operations in Hyderabad
Hyderabad: In a development that will cement Hyderabad as an attractive destination to the existing as well as new investors, social media giant Facebook and healthcare player Providence have taken additional space as part of its expansion plans. The social media company, in its recent move, has taken 91,000 sqft at the iconic Skyview towers. […]
Hyderabad: In a development that will cement Hyderabad as an attractive destination to the existing as well as new investors, social media giant Facebook and healthcare player Providence have taken additional space as part of its expansion plans.
The social media company, in its recent move, has taken 91,000 sqft at the iconic Skyview towers.
In the commercial space segment, every job created in the IT needs about 100 sqft. It implies that the additional employment generated by Facebook is a further 900.
“FB has an overall portfolio of approximately 4,50,000 sqft and has taken an additional one floor of 91,000 sqft. This was an expansion of their existing business in Hyderabad,” Thirumal Govindraj, Senior Managing Director, Executive Board, RMZ Corp, told Telangana Today.
Providence too has embarked on significant expansion recently, he said.
RMZ Corp, one of Asia’s largest privately-owned real estate owners, investors, and developers, operates the popular Skyview in Hyderabad, where the social media giant operates. RMZ’s other completed projects include The Millenia, RMZ Infinity (Bengaluru and Delhi) and One Paramount ( Chennai).
The Skyview is one of the newest builidings that has changed the Hyderabad skyscape in the western part of the city. It has about four million sqft to accommodate about 40,000 employees. The entire space at Skyview has been leased out, he said.
As per the space taken, Facebook employs about 4,500 people and is among the big employers in Hyderabad, which has a thriving in IT ecosystem employing more than 6.5 lakh directly.
IT Minister KT Rama Rao had at many industry platforms had acknowledged the support of companies expanding in Hyderabad. He called them `brand ambassadors of Telangana’.
According to Govindraj, IT employees have started coming back to offices for work. More people are likely to resume work from the offices in a month or so when they would have got their second vaccination. The work-from-home has played a key role in dealing with Covid effectively and at the same time ensuring work continuity, he said.
Commenting on the developments, IT and Industries Principal Secretary Jayesh Ranjan said,”Post Covid, most companies want to consolidate their business at 1-2 locations where they have the best value proposition, instead of spreading themselves too thin. Companies that have a footprint in Hyderabad feel positive about our city and prefer expansion and consolidation here”.
“Large global MNCs used to have apprehension about talent availability in Hyderabad and they would only bring low-end IT work here. This impression has drastically changed in the last five to seven years. Not only do they find superior quality talent here, but they also find the talent more affordable with a very low attrition rate,” the top official elaborated.
TS Government has been working to attract new companies to set up their operations in Hyderabad. It also simultaneously focused on keeping the existing investors happy and facilitate their growth.
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