Office: Hyderabad in Q3 recorded a gross leasing volume (GLV) of 2.2 msf which is approximately 180% higher on a y-o-y basis, this was mainly driven by fresh leases with a contribution of 1.2 msf. IT-BPM was a major contributor in Q3 2022 GLV with 34% share, followed by professional services with a 24% share and flexible workspaces with 13%. Hyderabad witnessed a 2X growth in net absorption owing to the expansion of IT-BPM, flexible workspace, and professional service occupiers.
Residential: In the third quarter of 2022, Hyderabad saw a launch of approximately 10,000 residential units, resulting in healthy y-o-y growth of 11%. This growth is driven by a strong demand both from investors and end-user alike. The western corridor has been the highest contributor in quarterly launches with a 64% share, followed by the northern corridor with a 25% share.
Retail: In Q3 2022, around 400,00 sft was leased across malls and main streets of Hyderabad, registering an astonishing growth of 81.8% over the previous quarters. The leasing activity was mainly driven by a mall and a few standalone operators commencing operations in prime high streets. Retail leasing activity in main streets accounted for the largest contributor with 65%, which is healthy growth of 55.9% over the previous quarter.
Learn more by clicking our most recent Hyderabad MarketBeat reports below.
