Hyderabad has become the new investment destination for Bengaluru’s commercial property developers at a time when the city’s real estate market is on a revival mode after almost half a decade of political turmoil.
Companies such as DivyaSree Developers, Salarpuria Sattva, Embassy and RMZ Corp have built or are in the process of building a substantial commercial portfolio in the city which, along with Bengaluru, is also home to some of the largest IT companies in the world, including Oracle, Microsoft and Uber. With rentals still low compared to other cities, companies are eyeing it as the next growth trajectory.
“Often existing customers will be looking for premises in other cities as it provides diversity and scale. With Hyderabad, rentals in the city are similar to ORR in Bengaluru for good quality product. But clearly it is strong on the infrastructure side and there is clarity now on the government after the political problems,” Mike Holland, CEO of Embassy Office Parks told TOI . DivyaSree has a commercial portfolio of about 8 million sqft in Hyderabad which includes office parks DivyaSree Orion, a SEZ, DivyaSree Omega and DivyaSree Square among others.
Read more: The Economic Times