Hyderabad has recorded 50 per cent of the office area transactions in large office spaces measuring 100,000 sq ft or more in H1 2023 according to Knight Frank India, an international property consultancy in the country.
The total volume of area transacted for large office spaces was recorded at 1.47 million sq ft in H1 2023. A surge in demand from India facing businesses and the growing confidence of the GCC (global capability centres) space from emerging sectors in the Hyderabad office market seem to be the reason for the rise in demand for large office spaces.
In H1 2023, an estimated 35 per cent of transactions which is 1.04 million sq ft were witnessed in spaces below 50,000 sq ft. Mid-sized offices which are in spaces measuring between 50,000 sq ft and 1,00,000 sq ft constituted 15 per cent with 0.43 million sq ft of transactions in H1 2023.
