Hyderabad poised to attract more BFSI facilities

The office leasing activity is an indicator of growing engagement of BFSI in Hyderabad with the sector H1-2024 accounting for as much one third of office space offtake

Updated - July 10, 2024 06:57 am IST

Published - July 09, 2024 08:26 pm IST - HYDERABAD

Hyderabad is poised to consolidate its position as a preferred destination for facilities of Banking, Financial Services and Insurance (BFSI) firms on the back of its strategic location as well as government’s commitment to foster a thriving business environment.

The city is likely to attract more major BFSI players in the coming quarters thus strengthening its position as a comprehensive business destination catering to diverse industries, government sources said, citing as examples the decision of Cigna Healthcare, Lloyds Bank, Swiss Re, MetLife, DTCC and Ameriprise.

While Hyderabad has emerged as a prominent IT hub, the first half of 2024 (January-June) saw several BFSI organisations establishing presence signifying a significant shift contributing to Hyderabad’s position as a well-rounded business hub. The developments reflect the growing confidence in the city’s robust infrastructure, skilled workforce, overall business environment and a stable political environment.

The office leasing activity is an indicator of growing engagement of BFSI in Hyderabad with the sector H1-2024 accounting for as much one third of office space offtake. It also highlights the supportive, robust ecosystem Hyderabad fosters and benefits not just large corporations but also for startups within the BFSI sector.

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