Office leasing grows 9% Y-o-Y to 7.3 million sq.ft. in city 

Hyderabad office leasing grew by 9% year-on-year from January to September 2024, reaching 7.3 million sq.ft., driven by life sciences, BFSI, and technology in Q3, according to a report by CBRE South Asia Pvt. Ltd.
The report, CBRE India Office Figures Q3 2024, states that office leasing in Hyderabad was 7.3 million sq.ft. compared to 6.7 million sq.ft. last year. The supply stood at 8.5 million sq.ft. during the same period. As per the report, in Q3, office leasing reached 2.7 million sq.ft., with key sectors driving absorption including life sciences (29%), BFSI (20%) and technology (16%). Notable transactions included MetLife leasing 200,000 sq. ft. in Prestige Sky Tech, Hetero leasing 178,200 sq. ft. in Nexity, and RSM US leasing 100,000 sq. ft. in Phoenix Equinox.
The report noted that small deals (less than 50,000 sq. ft.) drove office space take-up.
CBRE estimates that pan-India office leasing may reach 70 million sq.ft. in 2024, supported by domestic and global occupiers expanding their operations.