'Repo Rate cut to Provide Growth Stimulus; Housing Demand to Soar' - Ramesh Nair, CEO and Country Head, JLL India
Hyderabad has attracted approximately Rs 10,100 crore worth of investments in real estate sector since the beginning of 2015 till the first half of 2019 as against Rs 1,800 crore from 2008 to 2014, a latest JLL study said.
The study released on Wednesday 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 for the city.
According to the research, the office segment attracted nearly 70 per cent of investments.
"The formation of Telangana state has added to the growth potential of the city. There is a growing preference among global as well as domestic occupier companies toward quality assets.
Expansion led by co-working operators, BFSI and select IT/ITeS companies have resulted in the strong surge in Hyderabad. Our outlook on the city remains positive," CEO and Country Head of JLL India, Ramesh Nair was quoted as saying in a release.
Compared to this, 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, he said.
Going ahead, Hyderabad is likely to be the front runner in office segment with 13.2 million sq ft, constituting 28 per cent of the overall new completions in India in 2019.
Almost 50-60 per cent of this space is already pre-committed, the study said.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)