- By the end of this year, a new supply of 17 million square feet
- Gachibowli tops with a 58% share in last year’s supply
- CREDAI Hyderabad and CRI Matrix report revealed
Hyderabad is set to excel in Grade-A office space. By the end of this year, a new supply of 17 million square feet of office space will be available. This is the first time in any year that such a large amount of Grade-A office space is being introduced. Last year, Gachibowli topped the office space supply with a 58% share. These details were revealed in a report jointly released by CREDAI Hyderabad and CRI Matrix.
In the 2024 fiscal year, there was a demand for 13 million square feet of Grade-A office space, with a supply of 12.4 million square feet. Currently, there is 151.1 million square feet of Grade-A office space available. Compared to Q4 of 2023, the vacancy rate for Grade-A office space in Q4 of 2024 is expected to decrease by 1.5%. Additionally, compared to Q4 of 2023, transactions involving spaces larger than 100,000 square feet have increased by 2.2 times in Q4 of 2024. Moreover, office space demand in Q4 of 2024 has increased by 14.7%. Of this demand, 49% comes from IT and ITeS, 18% from healthcare, 10% from BFSI, 8% from automobiles, 4% from co-working spaces, and 4% from commercial and professional services.
