Hyderabad’s real estate is turning out to be a leading market in south India, according to the CBRE India’s latest report. Titled, The Comeback of Hyderabad , the report projects the city as regaining prominence as one of the leading destinations for the real estate. The report lists out political stability, State Government’s pro-active policies, growing occupier demand, improved infrastructure, quality educational institutions and the availability of a large talent pool as the reasons for bringing back attention to the city’s real estate market.
Anshuman Magazine, Chairman and MD, CBRE South Asia Pvt. Ltd. Said: With the various investor-friendly policies initiated by the State Government, and the planned infrastructure development, Hyderabad will be a destination of choice for a number of corporates looking to expand or enter the south India market. The proposed infrastructure development planned for the city is creating a conducive environment and will spur further investment inflow into the city and the State. According to the report, the IT/ITeS boom several years ago, coupled with the development of HITEC city, has made Hyderabad the preferred location for technology firms to set up their operations. In 2008, office stock stood at 23 million sq. ft., and by 2015, this had doubled to approximately 47 million sq. ft. Total organised retail space in the city stood at 2.7 million sq. ft. as of June 2016, majority of which is concentrated in western and central Hyderabad. This is likely to go up by almost 4 million sq. ft. of additional supply in key markets over the next two years paving way for the entry of global retailers into the city.