640% quarter-on-quarter jump in Hyderabad's office leasing
0.4 million sq m of the transacted space recorded office leasing activities in H2 2020 in Hyderabad whereas, 4.9 million sq feet of new completions were also done. With the arrival of the news of the vaccine, the companies thought it best to secure their space due to which there is a 640% growth in Q4 from Q3.
Despite the covid challenges, Hyderabad's office market stood second in terms of annual supply. The average deal size also increased to 9063 sq m from 7403 sq m in H2 2020.
West Hyderabad single-handedly accounted for 99% of transactions in H2 2020. The office space sector got a great boost with the arrival of Goldman Sachs in Hyderabad during the pandemic.