Hyderabad office leasing up 75 per cent: CBRE
Hyderabad: The total office leasing for the quarter was 1.4 million sq ft in Hyderabad majorly driven by technology corporates at 90 per cent and flexible space operators at 7 per cent. The Hyderabad office leasing witnessed almost 75 per cent year on year growth, says a report by CBRE South Asia. As per the […]
Hyderabad: The total office leasing for the quarter was 1.4 million sq ft in Hyderabad majorly driven by technology corporates at 90 per cent and flexible space operators at 7 per cent. The Hyderabad office leasing witnessed almost 75 per cent year on year growth, says a report by CBRE South Asia.
As per the office report titled CBRE India Office Figures Q1 2022, the office sector in India continued to witness a robust recovery in Q1 2022, as leasing activity grew by 97 per cent year on year to touch 11.4 million sq. ft.
Bengaluru, Hyderabad and Chennai dominated development completions, accounting for a cumulative share of about 70 per cent and supply was driven by non-SEZ developments with a share of around 83 per cent.
CBRE India chairman and CEO Anshuman Magazine said, “With the government’s evolving Covid-19 protocols and the recovery in office leasing in 2021, we expect the positive momentum to further strengthen in 2022. We continue to witness a pickup in long-term decision-making by occupiers, aided by ‘return-to-work’ strategies, thereby accelerating project completions.”
The report also mentioned that SEZ supply would mostly be led by Hyderabad and Delhi-NCR, while non-SEZ supply would be led by Bengaluru, followed by Delhi-NCR and Hyderabad. Renewals, renegotiations and addition of flexibility options are likely to be the focus of occupiers in the short term.
Now you can get handpicked stories from Telangana Today on Telegram everyday. Click the link to subscribe.
Click to follow Telangana Today Facebook page and Twitter .
