Telangana Irrigation and Civil Supplies Minister N Uttam Kumar Reddy recently highlighted Hyderabad’s emerging status as a global investment hub, attributing this growth largely to the government’s focused infrastructure development. Speaking at Statecon 2024, organized by the Confederation of Real Estate Developers’ Association of India (CREDAI) at the Hyderabad International Convention Centre (HICC), Reddy emphasized the government’s commitment to supporting the real estate sector and addressed several industry concerns. The event also saw the release of a significant report, “Telangana Going Global,” which underscores Hyderabad’s rapid development in the commercial real estate sector and its role as a major player in the global business landscape.
Reddy acknowledged Hyderabad’s burgeoning status as a global corporate hub, driven by substantial infrastructure advancements. The city’s appeal to global capability centers (GCCs) is evident, with Hyderabad accounting for 21% of total office leasing by GCCs in India between 2022 and the first half of 2024, according to the CBRE-CREDAI Telangana report. This growth is supported by investor-friendly policies and streamlined approvals, which have spurred increased demand for office space and new developments. The report reveals that Hyderabad’s office space stock surged to 127 million square feet in the April-June period of 2024, with the city’s office leasing reaching 4.4 million square feet between January and June 2024. The city’s office space has more than tripled since Telangana’s formation, illustrating its rapid expansion and solidifying its position as a global business hub. The report highlights that Hyderabad has secured $3 billion in foreign direct investment for the financial year 2023-24, doubling the previous year’s figures. The city has attracted over $40 billion in cumulative investment across various sectors since 2014. Hyderabad’s office space stock has grown significantly, with 27% of the current office space added in the past 10 quarters and an absorption rate of 23% during the same period. Technology, research, consulting, and analytics (RCA) firms are major drivers of office space demand, along with emerging sectors such as BFSI, flexible space operators, life sciences, and engineering and manufacturing (E&M) firms.
Minister Reddy’s address at Statecon 2024 and the release of the “Telangana Going Global” report underscore Hyderabad’s transformation into a major global investment hub. The city’s robust infrastructure development, coupled with supportive government policies and significant foreign investment, positions it as a key player in the international business arena. As Hyderabad continues to expand, Telangana’s other urban centers, including Warangal, Nizamabad, Khammam, and Karimnagar, are also emerging as promising areas for real estate development. This comprehensive growth strategy is expected to sustain Telangana’s trajectory as a leading global investment destination.
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