Hyderabad: Hyderabad together with Bengaluru led the way among the top seven cities when it comes to the absorption of office space and new office settlement in 2021, according to realty vestian consultation.
While the total absorption of gross office space in seven top cities rose 8% to 39.61 million feet in 2021 of 36.75 million square feet in 2020, Hyderabad along with Bengaluru and Delhi NCR contributed 64% of the total office absorption.
While Bengaluru accounted for 28% absorption in the main market with 11.1MSFT, followed by Delhi with 7.3MSFT and Hyderabad with 6.96MSFT.
However, at the office front office office, Bengaluru and Hyderabad, together, accounted for more than half the number of office space to be operational for 2021.
While the top cities recorded a leap of 20% in 2021 from 32.6 MSFT in 2020, Bengaluru showed Completion of 10.7MSFT and Hyderabad 9.9MSFT in 2021 which translates to more than 20MSFT.
The report also showed that although Hyderabad recorded an increase of 8% in the absorption of gross office space in 2021 in 2021 compared to 2020, still far from the absorption observed during the 2019 pre-pandemic period with lag.
steep 40%.
“Given the strict situation around the office market, with most of the companies postponing plans to return to their offices, the Hyderabad part of the office absorption fell to 17.6% by 2021, leading it to rank third among the seven main office markets in the country , from his second position last year, “the report showed.