Hyderabad sees remarkable growth in green office spaces

Hyderabad: The amount of environmentally compliant office space in Hyderabad has nearly doubled in the past four years.

According to the ‘Indian Real Estate: Taking Giant Strides – 2023 Mid-Year Outlook’ presented by CBRE South Asia Private Limited during the CII Realty 2023 conference, the environmentally compliant office space, which measured 25.9 million square feet in 2019, had increased to 51.9 million square feet by June 2023.

Nationally, the environmentally compliant office space has also witnessed significant growth. The CBRE-CII Report highlighted the remarkable surge in environmentally compliant office buildings across India, with a growth rate of over 36 percent since 2019, totaling 342 million square feet. Bangalore, Delhi-NCR, and Mumbai were the top three cities contributing to 68 percent of the environmentally compliant office space as of June 2023.

One noteworthy aspect of the report is the increasing focus on sustainability within the Indian real estate sector. As of June 2023, India boasts a total of approximately 342 million square feet of green-certified office space, with Hyderabad accounting for 15 percent of this nationwide inventory.

The report also pointed out that leasing activity remained stable across real estate assets during the first half of 2023 and is expected to grow in the latter half.

Furthermore, the industrial and logistics sector experienced substantial growth, while retail leasing saw an upward trend. Residential sales surpassed expectations, and investment activity is predicted to increase in the coming months.