Telangana Hyderabad absorbs 3.1 million sqft office space in July-Sept. quarter: CBRE
Hyderabad was among the top three cities for office space leasing in July through September, absorbing 3.1 million square feet of space, a 261 percent rise from the same period last year. Life sciences, which accounted for 30% of the demand, BFSI, which accounted for 24%, and technology, which accounted for 23%.
According to the CBRE india office numbers Q3 2023 report, significant deals during the quarter included Bristol Myers Squibb (3,000,000 square feet in international Tech Park -Block A), The Executive Centre (30,000 square feet in Nexity Tower 30), and Pinnacle Reliability (20,000 square feet in My home Twitza).
According to the research, small-data-sized (less than 50,000 sq. ft.) purchases in hyderabad were what drove the absorption of office space. In nine locations around india, office leasing activity rose by 33% year over year and reached 15.8 million square feet during the quarter. The top three cities for office absorption were mumbai (3.3 million square feet), Bengaluru (3.3 million square feet), and hyderabad (3.1 million square feet), which together accounted for roughly 60% of the total office space transaction activity. watch out this space for more updates in this regard.
According to the research, small-data-sized (less than 50,000 sq. ft.) purchases in hyderabad were what drove the absorption of office space. In nine locations around india, office leasing activity rose by 33% year over year and reached 15.8 million square feet during the quarter. The top three cities for office absorption were mumbai (3.3 million square feet), Bengaluru (3.3 million square feet), and hyderabad (3.1 million square feet), which together accounted for roughly 60% of the total office space transaction activity. watch out this space for more updates in this regard.