Hyderabad’s office market remained resilient with about 5.0 million sq. ft. office space absorption till the third quarter, which is about 79% more than the same period last year, said a property consultant in their quarterly report. Healthy demand from occupiers in Information Technology and Information Technology Enabled Services (IT-ITeS) segment took the gross leasing volume to 1.88 million sq. ft. in Q3 2016 totaling to about 5 million sq. ft. year till date ( YTD). The leasing in the third quarter of 2015 was 1.52 million sq. ft. while it was 3 million sq. ft. till September last year.
The segment also witnessed a spike in pre-commitments, and agreements to lease, mostly concentrated in the secondary business districts (SBD) mainly driven by the expansion strategy of the large occupiers.
Read more: Economic Times
