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Hyderabad's office market is poised for significant growth, with total stock expected to exceed 200 million sq. ft. by 2030, according to a CBRE and HYSEA report. Currently contributing 15% of India's office space and 18% of its green-certified offices, Hyderabad has tripled its office stock since 2014, reaching 137 million sq. ft. by December 2024. In 2024, the city absorbed 12.3 million sq. ft., led by the tech sector (31%), life sciences (21%), and flexible space operators (14%). As a key hub for Global Capability Centers, Hyderabad continues to attract multinational firms, reinforcing its commercial real estate prominence.
Hyderabad's office market is on a growth trajectory, with its total stock projected to surpass 200 million sq. ft. by 2030, according to a joint report by CBRE South Asia Pvt. Ltd. and the Hyderabad Software Enterprises Association (HYSEA). The city currently contributes about 15% to India's overall office space and over 18% of the nation's green-certified office stock. This growth reflects Hyderabad's increasing prominence as a key destination for businesses seeking quality office spaces. Advertisement
Since 2014, the city's office stock has tripled, reaching approximately 137 million sq. ft. by the end of December 2024. This expansion is largely driven by demand from global firms. In 2024, the city witnessed a total office space absorption of 12.3 million sq. ft., with the technology sector leading at 31% of the total share. Historically, the technology industry has played a dominant role in Hyderabad's office leasing, accounting for an annual share of 30-35%. However, recent years have seen a diversification in occupier profiles, with sectors such as life sciences, flexible space operators, and consulting companies contributing significantly to the city's office demand.
In 2024, life sciences companies leased 21% of the total office space, while flexible space operators secured 14%, underscoring the growing appeal of Hyderabad among a broader range of industries. The city has evolved into a major business hub, attracting global corporations from sectors including IT, biotechnology, pharmaceuticals, and finance. Its strategic location, robust infrastructure, and thriving innovation ecosystem further bolster its position as a preferred destination for corporate expansion.
One of the report's key highlights is the role of Hyderabad as a hub for Global Capability Centers (GCCs). These centers are driving digital transformation for global firms, expanding their operations beyond traditional back-office functions to include advanced roles in engineering, research and development, and information technology. Between 2022 and 2024, GCC absorption in Hyderabad grew by over 12%, reaching 5.3 million sq. ft. in 2024 and accounting for nearly 43% of the city's total office absorption that year.
Hyderabad ranks second in India for GCC leasing, just behind Bengaluru, as multinational companies continue to set up and expand their operations in the city. The increasing adoption of advanced technologies such as artificial intelligence, cloud computing, and data analytics has also fueled this growth. Supported by Hyderabad's well-developed infrastructure, rich talent pool, and favorable business environment, the city remains a strong magnet for global corporations across various industries, cementing its status as a key player in India's commercial real estate landscape.
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