Hyderabad office space demand spikes
Office space sales in Hyderabad, India, increased over three times in the last five years, according to a report released by property consultant firm Knight Frank. The report, titled “Work From Hyderabad,” attributes the spike in demand for office spaces to the changing nature of the city’s IT industry.
“The mainstay of Hyderabad’s office market has for long been the IT sector but this was limited to back-end operations and outsourced processes i.e., BPOs (Business Process Outsourcing) and KPOs (Knowledge Process Outsourcing). Today, the focus of these occupiers is on captive production and product development functions,” the report says.
While there has been a slump in office transaction volume this year due to COVID-19, the report noted that office rentals in the city “have remained stable so far.” The report further stated that Hyderabad “is one of the few cities that has recorded a positive rental growth of 2 per cent year-on year (YoY) in Q3 2020.”
Related news
- BPO firm shuts down office as two employees test positive for COVID-19 · 25 Aug
- Thirteen government agencies and organizations now PEZA’s investment partner · 25 Aug
Disclosure: Outsource Accelerator uses AI tools in the backend of its editorial workflow. Every article is reviewed and verified by a human editor before publication.
Stay ahead of the outsourcing industry. Join thousands of business leaders who rely on Outsource Accelerator for the news, trends, and expert insights that matter. Subscribe to our free newsletter and never miss an update.
