According to a recent report by Knight Frank India, Hyderabad has demonstrated an impressive performance in the commercial real estate sector. In the third quarter of 2023, the city achieved a robust 17.71 percent year-on-year (YoY) growth in office space transactions exceeding 100,000 square feet, solidifying its position as a thriving business hub in India. 

The report highlights that Hyderabad accounted for a substantial 23.58 percent of total transactions in the large office space segment across India's eight leading markets in Q3 2023. Hyderabad's consistent growth in office asset transactions is remarkable, with positive trends evident across three office space segments. 

In the category of large office spaces (exceeding 100,000 square feet), Hyderabad witnessed a substantial 17.71 percent YoY growth in transactions. Additionally, mid-sized office spaces (ranging from 50,000 square feet to 100,000 square feet) showed positive signs with a 3.49 percent YoY increase. Even smaller office spaces (those with less than 50,000 square feet) experienced a notable YoY increase in transactions, with a growth of 15.44 percent.  

The third quarter of 2023 also witnessed significant leasing activities in Hyderabad's office space market, with Global Capabilities Centres leading the way, followed by flex office spaces, India Facing Business, and third-party IT Services. Hyderabad's robust performance in the office space market underscores its prominence as a key player in India's commercial real estate landscape.