Hyderabad's office leasing market is on an incredible upswing, with leasing activity witnessing an astounding 261 percent surge in the first half of 2023 compared to the same period last year, as revealed in a comprehensive report by JLL.
The city has magnetized over 5 million square feet of new leasing within the initial six months of this year alone, marking a remarkable milestone in its real estate landscape.
Several pivotal factors fuel this leasing frenzy, including Hyderabad's burgeoning economy, its expansive and ever-growing talent pool, and its competitive real estate costs. Moreover, Hyderabad is the coveted home to an array of Fortune 500 companies and startups, all eager to amplify their presence within the city.
JLL's report further elucidates that the IT/ITES sector is spearheading the charge in office leasing, contributing to over 50 percent of all new leases in the first half of the year. Other key sectors propelling this leasing surge encompass BFSI, manufacturing, and pharma.
Excitingly, this robust leasing activity is anticipated to persist throughout the second half of 2023, with JLL forecasting that Hyderabad will allure over 7 million square feet of fresh leasing in the entire year.
This news is nothing short of excellent for the Hyderabad real estate market and the city itself. It solidifies Hyderabad's position as a highly desirable hub for businesses of all sizes and reaffirms the city's robust economic growth.
Contact:
GOPI KRISHNA ACHARYA K - Investment Plots/Farm Plots Expert around HYD
www.investmentplots.in
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#HyderabadOfficeLeasing #SkyscraperBoom #RealEstateGrowth #HyderabadEconomy #OfficeSpaceHyderabad
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