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.

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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.

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