APN News

  • Monday, September, 2020| Today's Market | Current Time: 07:31:41
  • Hyderabad emerges most resilient; returns to normalcy faster than other cities: JLL report

    Published on August 21, 2020

    Hyderabad : Hyderabad continues to show resilience and its real estate dynamics kept up the momentum according to the JLL-CII report “Hyderabad Real Estate – A Road Map amid the COVID -19 crisis,’’ launched today. The city’s real estate performance was far better in H1 2020 as compared to other cities in India. Its formal economy was one of the first in urban India that resumed its stability as the lockdown rules were relaxed.

    Despite the nationwide lockdown, in Q2 2020, Hyderabad continued to witness relatively good office leasing and residential sales. Once construction activities resumed in May 2020, the city also saw supply of new office buildings in addition to new residential projects. Hyderabad also led India’s office supply with a 30% share in H1 2020, significantly driving the country’s office absorption with an 18% share during the same period. Further, the city reported strong sales with the least unsold inventory in India which can be offloaded within two years. 

    “Hyderabad’s resilience comes from the confidence of doing business instilled by the state government. The business-friendly policies of the government has helped corporates leverage the existing ecosystem in the state to maximize output and emerge as the destination of choice. For example, growth of the IT sector in the state: While national IT exports grew by 8% in 2019-20, IT exports here grew by 18% in the same period. Owing to its robust and fast developing infrastructure along with ease of living, offering a cosmopolitan environment, today, Hyderabad is a major destination for India’s young workforce,” said Ramesh Nair, CEO & Country Head, India, JLL.

    In JLL’s latest GRETI (Global Real Estate Transparency Index) report in 2020, India experienced higher improvement and it is in the cusp of becoming a transparent economy. The focus of the government on sustainability transparency with focus on wellness and PropTech adoption drove this improvement.

    Hyderabad has been one of the fore runners in India in these parameters. This further strengthens the investor confidence in the city’s real estate. Through the much-appreciated TS-iPass, ICT Policy and other investment friendly initiatives by the state government, the city has witnessed a major economic growth in the last six years.

    “Hyderabad’s positive reaction to the crisis has reflected tremendously in the city’s real estate performance. The focus of the government on business-friendly policies has helped Hyderabad emerge as a one of the leaders despite the global pandemic,” said Sandip Patnaik, Managing Director – Hyderabad, JLL. He further added, “Impressive investment in the infrastructure sector and the state’s fast track execution has tremendously contributed to the city’s real estate growth. An active real estate market and strong economic growth along with a thriving start-up culture have helped the city to gain one of the leading positions globally.”