Amazon Expands in Bengaluru with 1.1 Million Sq Ft New Office Space
- Industry News
- June 20, 2024
Hyderabad is on track to surpass 200 million sq. ft of office space by 2030, fueled by increasing demand from technology firms and Global Capability Centers (GCCs), according to a joint report by CBRE and the Hyderabad Software Enterprises Association (HYSEA). The city’s office stock has tripled since 2014, reaching nearly 137 million sq. ft as of December 2024.
READ MOREHyderabad’s Grade A office vacancy rates are projected to reach 24% by 2026 due to record supply growth outpacing demand. Key areas like Gachibowli face rising vacancies, while Hitech City remains stable. Sustainability and tech-forward spaces are crucial for attracting tenants in this rapidly evolving commercial real estate market.
READ MOREHyderabad topped India’s office space market in 2024 with the highest average deal size of 70,535 sq ft, a 10.13% increase. Nationally, deal sizes grew 10.24%, driven by demand for premium spaces. Mumbai saw the most significant growth at 54.59%, with Bengaluru, Delhi NCR, and Pune also recording significant activity.
READ MOREFacebook has renewed its Hyderabad office lease in Hitech City for ₹2.8 crore monthly rent across 3.7 lakh sq ft. With a five-year lease and a 15% rent escalation in 2026, this move highlights Hyderabad’s growing appeal. Rising rental rates solidify the city as a prime IT and commercial hub.
READ MOREHyderabad recorded 56% growth in Grade A office space leasing in 2024, reaching 12.5 msft, driven by tech, healthcare, and flex sectors. The city contributed 19% to India’s total leasing activity, dropping vacancy levels by 90 bps. New supply and GCC-led demand position Hyderabad as a key commercial hub.
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