Hyderabad gets ₹10,000-cr realty investment

Hyderabad has secured about ₹10,100 crore worth of investments in its real estate sector since the beginning of 2015 till the first half of 2019 as against ₹1,800 crore from 2008 to 2014, a latest JLL study said. Focus on infrastructure, strong economic growth, development of world-class office and residential assets, and progressive state-level reforms introduced in recent years, have positively impacted the investors' and occupiers' preference in the city. According to JLL, the office segment attracted nearly 70 percent of the investments and the formation of Telangana has added to the growth potential of the city. There is a growing preference among global as well as domestic occupier companies for quality assets. Expansions led by co-working operators BFSI and select IT/ITeS have resulted in the strong surge in Hyderabad, according to CEO and Country Head of JLL India, Ramesh Nair. The net absorption in other cities remained relatively slower as the markets continued to witness consolidation, primarily in IT/ITeS domain players, and relocation of corporates in a bid to lower costs and enhance efficiencies. Going ahead, Hyderabad is likely to be the front runner in the office segment with 13.2 million sq ft, constituting 28 percent of the overall new completions in India in 2019; 50-60 percent of this space is already pre-committed, the study added.