CBRE South Asia, in partnership with Hyderabad Software Enterprises Association (HYSEA), launched a report ‘The Next Normal – Reimagining Hyderabad’s Real Estate Landscape’ at The HYSEA Infrastructure Summit 2021.
Over the years, Hyderabad has positioned itself in the national spotlight by attracting large-scale investments in industries such as IT / ITeS, life sciences, electronics, etc. The report deep dives into the growth of the office sector in the city, owing to the extensive government policies, efficient urban infrastructure, and availability of skilled workforce.
Witnessing a rising office demand and huge influx of supply, especially along IT and Extended IT Corridor, Hyderabad’s investment-grade office stock has doubled from 2016 – crossing over 90 million sq. ft. at the end of Q3 2021. Continuing the momentum, the city is expected to add about 30-35 million sq. ft. of investment-grade business parks over the next three years.
With Hyderabad succeeding in containing the pandemic and relaxing restrictions on business and social activities, corporates have now slowly started to reopen their offices.
According to CBRE’s recent ‘APAC Future of Office Survey’ report, 47% of occupiers across APAC have started encouraging their employees to return to offices, alongside providing an option to work from home.
CBRE believes that the shift in working patterns indicates that varied hybrid work models are likely to be the new norm. CBRE’s latest report indicates that most occupiers are expected to require employees to spend a majority of their working week in the offices across APAC.
Anshuman Magazine, Chairman, India & South-East Asia, Middle East & Africa, CBRE, said, “The pandemic influenced the way business’s function, and their overall strategies. They have adopted new working models that keep workplace flexibility at the centre, balancing employee benefits and business profitability. The demand for physical office spaces will continue to rise as employees look forward to normal workdays; with mass vaccination propelling further sectoral growth. Hyderabad’s policy initiatives along with efficient urban infrastructure are expected to further aid the region’s overall development”.
Ram Chandnani, Managing Director, Advisory & Transactions Services, India said, “Since the onset of the pandemic we have been witnessing an accelerated change in performance, expectations, and role of the workplace. While firms have been successful in changing their strategies to ensure seamless functioning, they have also effectively leveraged the potential changes in work styles. While for many the work from home culture may continue, the demand for physical workspaces is expected to be driven by flex offerings.”
As the business environment is likely to continue to improve, increased adoption of technology, hybrid workplaces, hub-and-spoke models, flexible workspaces etc. are expected to shape the next normal of working across India, particularly in Hyderabad.
Spectrum Metro organises Tiranga Yatra to celebrate 75th Indian Independence Day
Noida: Spectrum Metro organised a Tiranga Yatra to mark the Azadi Ka Amrit Mahotsav celebrations on the occasion of India’s...
Tiranga hoisted at highest point in NCR
Gurugram: To mark the 75th Azaadi Ka Amrit Mahotsav and in keeping with PM Modi’s ‘Har Ghar Tiranga’, Raheja Developers...
Pyramid Infratech celebrates 75th Independence Day of India
Gurugram-based real estate developer Pyramid Infratech hosted an event to embark on the 75th year of Indian Independence day and...
CRC Group celebrates “Azadi Ka Amrit Mahotsav” on 75th Independence Day
Noida: Real estate developer CRC Group organised a grand celebration on Independence Day to commemorate “Azadi Ka Amrit Mahotsav” festive...
Mahagun Group holds cultural event to celebrate Azadi Ka Amrit Mahotsav
NCR-based real estate developer Mahagun Group organised a cultural programme on the occasion of the 75th Indian Independence Day, giving...
UP RERA’s 100th meeting on its fourth anniversary; lists it’s achievements
August 16, 2022: The 100th Meeting of U.P. RERA was held on August 16, 2022 under the Chairmanship of its...
News4 weeks ago
UPRERA authorises Utopia Estate promoter to complete construction work
Events4 weeks ago
Homebuyers of Silicon City-II, Dream Valley Villas receive Letter of Possession
Guest Column4 weeks ago
Why Sohna is a preferred destination for plot investments in Gurugram
News4 weeks ago
NCR sees highest land appreciation since 2019, 38% rise on Yamuna Expressway
Developers Speak3 weeks ago
Realty wary of upcoming Monetary Policy
News4 weeks ago
BHIVE sees huge response for its Fractional real estate in Bengaluru; offering 15% yield
News3 weeks ago
Mahagun offers investment options in its commercial project, Marina Walk
Tech Take3 weeks ago
Battery management system is vital for EVs