Hyderabad witnessed strong office leasing during 2016, registering a 109 per cent year-on-year growth during the year, according to real estate consultancy CBRE South Asia.
During the January to March 2017 quarter, the city witnessed the uptake of more than 1.3 mllion sq ft.
The residential activity in North Hyderabad is driven by presence of industries such as pharmaceutical, biotech, electronics, etc.Speaking at a property fair hosted here, Anshuman Magazine, Chairman, India and South East Asia, CBRE, in a statement said, “Political stability, coupled with the city’s inherent strengths, including its status as a prominent IT hub, a robust institutional base, supportive government policies and large infrastructure initiatives, are augmenting Hyderabad’s real estate development.”
“This, coupled with the city’s strong office leasing activity in the recent past, is having a positive impact on the residential market,” he said.