Hyderabad Hits Decadal Lease High | Nearby News
logo
Civic Contacts
Home
Newsletters
Stories
Events
LifeStyle
Business
Administration
Politics
Entertainment
Startups

Hyderabad

Hyderabad Hits Decadal Lease High
The entry of Goldman Sachs during the COVID period can be said to be a game-changer in the realty sector of Hyderabad. With the presence of Amazon’s Data Centre, there have been inquiries in this segment and there is an increasing likelihood of automotive and electric vehicle segments setting up shop here. This has directly […]
G
Ganesh Gulipalli
Hyderabad
Wed Jan 06 2021
share via :
Hyderabad Hits Decadal Lease High
A +
A -

The entry of Goldman Sachs during the COVID period can be said to be a game-changer in the realty sector of Hyderabad. With the presence of Amazon’s Data Centre, there have been inquiries in this segment and there is an increasing likelihood of automotive and electric vehicle segments setting up shop here.

This has directly impacted the office leasing market which resulted in renting out of 0.4 sq million or 3.8 mn sq ft in H2 2020. During the same period, new completions stand at 0.4 million sq mn or 4.9 mn sq ft. But what’s really got the market sit up and look is the fact that office space transaction grew by a whopping 640% in Q4, as compared to Q3 2020.

One of the major reasons behind this is the news of the vaccine coming up. With vaccines being administered slowly and steadily in some countries and India gearing up for a massive vaccine drive, companies large and small have started committing to lease plans. Also, given the increase in business activity, the companies have become more confident in Q4, 2020.

Knight Frank in its latest report shared that the share of Banking, Financial Services and Insurance (BFSI) went up from 4% in H2 2019 to 30% in H2 2020, which meant a significant 248% YoY growth in the sector’s office space absorption in H2, 2020. This was mainly due to two major deals.

Incidentally, Hyderabad’s lease market recorded the second-highest annual supply numbers in 2020. About 8.7 mn sq ft of new office space was available in the market, which is supposedly higher than the decadal average.

Pre-commitments accounted for 21% of the volume.

Suburban Business District (SBD) with Hyderabad Information Technology and Engineering Consultancy (HITEC) and Hyderabad Knowledge City at Raidurg continued to dominate the market with 83% demand share, while the Peripheral Business District (PBD) at Gachibowli accounted for 16% of the pie.

#Lease #Office #Hyderabad #HITEC

Subscribe to our Newsletter from nearby news for more updates on Hyderabad

Get your local newspaper delivered to your Email at 7am everyday
Select City
Select City

FOLLOW US

Hyderabad Hits Decadal Lease High
Hyderabad Hits Decadal Lease High
Latest Articles
Traffic Jams and Long Queues Continue on The Second Day As Well
Traffic Jams and Long Queues Continue on The Second Day As Well
Relief Riders Come to the Rescue of the Needy During COVID
Relief Riders Come to the Rescue of the Needy During COVID
New Digital Auction Platform, Origo For Farmers
New Digital Auction Platform, Origo For Farmers
Vaccination Drive Faces the Blues of Lockdown as the State sees Record Low Jabs
Vaccination Drive Faces the Blues of Lockdown as the State sees Record Low Jabs
Home Chef's In-Demand for Haleem as Ramzan Comes to an End.
Home Chef's In-Demand for Haleem as Ramzan Comes to an End.
Hyderabad Ranked Fifth out of Eight Cities in Health Infra Report By Housing.com
Hyderabad Ranked Fifth out of Eight Cities in Health Infra Report By Housing.com
City's Olympians Saina Nehwal and Kidambi Srikanth Out Of Tokyo 2020?
City's Olympians Saina Nehwal and Kidambi Srikanth Out Of Tokyo 2020?
110 year old Defeats Covid and Tests Negative
110 year old Defeats Covid and Tests Negative
Hyderabad and Bangalore Buzzing with Jobs in Monsters Employment Index
Hyderabad and Bangalore Buzzing with Jobs in Monsters Employment Index
Schools in the City Revive The Magic of Movie Time Virtually.
Schools in the City Revive The Magic of Movie Time Virtually.
Related Articles
Traffic Jams and Long Queues Continue on The Second Day As Well
Traffic Jams and Long Queues Continue on The Second Day As Well
Vaccination Drive Faces the Blues of Lockdown as the State sees Record Low Jabs
Vaccination Drive Faces the Blues of Lockdown as the State sees Record Low Jabs
Home Chef's In-Demand for Haleem as Ramzan Comes to an End.
Home Chef's In-Demand for Haleem as Ramzan Comes to an End.
Hyderabad Ranked Fifth out of Eight Cities in Health Infra Report By Housing.com
Hyderabad Ranked Fifth out of Eight Cities in Health Infra Report By Housing.com
City's Olympians Saina Nehwal and Kidambi Srikanth Out Of Tokyo 2020?
City's Olympians Saina Nehwal and Kidambi Srikanth Out Of Tokyo 2020?
110 year old Defeats Covid and Tests Negative
110 year old Defeats Covid and Tests Negative
Hyderabad and Bangalore Buzzing with Jobs in Monsters Employment Index
Hyderabad and Bangalore Buzzing with Jobs in Monsters Employment Index
Schools in the City Revive The Magic of Movie Time Virtually.
Schools in the City Revive The Magic of Movie Time Virtually.
Cabbies Hit By Another Thunderbolt
Cabbies Hit By Another Thunderbolt
Hyderabadis Make The Most Of The Four-hour Relaxation
Hyderabadis Make The Most Of The Four-hour Relaxation
Old City Wears a Deserted Look After a Crowded Morning
Old City Wears a Deserted Look After a Crowded Morning
Here's How You Can Travel in and Outside of the State During Lockdown
Here's How You Can Travel in and Outside of the State During Lockdown
LPG Delivery in GHMC Getting Harder with Delivery Boys Testing COVID Positive
LPG Delivery in GHMC Getting Harder with Delivery Boys Testing COVID Positive
Another Year of Eid-ul-Fitr at Home Amid Lockdown
Another Year of Eid-ul-Fitr at Home Amid Lockdown
Healthcare and Government Bracing for the Third Wave?
Healthcare and Government Bracing for the Third Wave?
Track Your Senses to Stay Healthy, says COVID Survivor
Track Your Senses to Stay Healthy, says COVID Survivor
Subscribe to our Newsletter
Get your local newspaper delivered to your Email at 7am everyday
Select City
Select City
logo
nearby news
hi@nearbynews.in
Gachibowli, Hyderabad - 500032
nearby news © - 2021