Retail space absorption in Hyderabad has picked up pace after remaining subdued for years due to regional agitations and political uncertainty.
According to property consultants, more than half a dozen large retailers, including global brands H&M, Forever21 and GAP, and domestic players Reliance, Shoppers Stop and Central, recently agreed to absorb nearly 2.6 million square feet (sq. ft.) of retail space, giving momentum to a process started by global giants like Apple, Amazon and Uber over the last two years.
Property consultants attribute the spurt in commercial real estate activity to improved office market absorption – while MNCs like Apple, Amazon and Uber entered the city for the first time, existing players like Novartis, Deloitte and Accenture expanded operations.
Read more: ETRealty