- City records the highest GCC leasing in past three years in 2024 at ~5.3 mn. sft.
Regnews, Hyderabad – Feb 11: CBRE South Asia Pvt. Ltd, India’s leading real estate consulting firm, today unveiled the findings of its joint report titled, ‘HYSEA Scale @ Hyderabad: Global Technology Destination’, with Hyderabad Software Enterprises Association (HYSEA) highlighting the city’s expanding real estate landscape. As per the report, Hyderabad’s office stock is estimated to surpass 200 mn. sq. ft. by 2030. Hyderabad currently contributes to around 15% of the total office space in India and accounts for over 18% of the green-certified office stock in India. Driven by robust demand for office spaces by global firms, the city’s office stock has more than tripled since 2014 to nearly 137 mn. sq. ft. as of December 2024.
The report highlights Hyderabad’s position as a preferred destination for businesses seeking dynamic office spaces. In 2024, this momentum continued, with absorption reaching 12.3 million sq. ft. With an extensive presence of leading players, the technology sector led Hyderabad’s office leasing activity with the highest share at 31%. In the past, Hyderabad’s office absorption has been dominated by the technology sector, with an annual share of about 30-35%. However, in recent years, the city has witnessed a diversification in its occupier base.
Various other sectors, including flexible space operators, life sciences firms, and consulting companies, have increasingly turned to Hyderabad for their office space needs. In 2024, life sciences firms had an office leasing share of 21%, and flexible space operators share stood at 14% in overall office leasing, showcasing a diverse demand across industries. Hyderabad has now emerged as a major business and innovation hub, with global corporations expanding their presence across diverse sectors, including IT, pharmaceuticals, biotechnology, and finance.
The report further highlighted Hyderabad’s thriving tech ecosystem and talent pool, which made it a hub for Global Capability Centers (GCCs). These centers are driving digital transformation, evolving into strategic partners while recruiting specialized talent in engineering, research & development, and information technology.
GCC absorption in Hyderabad grew by over 12% from 2022 to 2024, reaching 5.3 million sq. ft. in 2024, accounting for nearly 43% of the total office space take up in the city last year. Hyderabad is ranked second in GCC leasing in India, after Bengaluru and the city continues to attract global corporations across industries such as technology, pharmaceuticals, biotechnology, and financial services. The adoption of advanced technologies like AI, cloud computing, and data analytics further fuels this growth, backed by Hyderabad’s robust infrastructure and talent ecosystem.
Anshuman Magazine, Chairman & CEO, India, Southeast Asia, Middle East & Africa, CBRE, said, “Hyderabad’s transformation into a global business and technology hub showcases its ability to adapt and evolve with market demands. The city’s robust infrastructure, diverse occupier base, and skilled talent pool position it as a critical growth center for India’s real estate landscape. With its strong IT/ITeS ecosystem, Hyderabad will continue to remain a top choice for GCCs across technology, BFSI, and life sciences, driving office space demand.”
Gipson Paul, Senior Executive Director, Advisory & Transaction Services, CBRE India, said, “Hyderabad’s real estate landscape is evolving rapidly, with a strong emphasis on sustainability and eco-friendly practices. Developers are increasingly integrating green spaces and adopting environmentally conscious measures driven by proactive government policies and incentives. This commitment positions Hyderabad as a leading example of sustainable urban development, setting benchmarks for cities across India”.
