Hyderabad will soon become city of 100 mn sqft commercial space

Hyderabad: Soon a 100 million square feet commercial space will be available in the City. At present there is 76 million square feet of commercial space and the remaining 40 million shall be available in the form of IT parks work for which is underway in different phases where manufacturing and life sciences related industries will come up rapidly.

IT and ITeS industries will require most of the commercial space in near future. Hyderabad will become a city of a 100 million square feet commercial space by 2023.

In terms of the commercial space Bangalore is leading with 160 million square feet of commercial space followed by NCR and Delhi with 110 million square feet and Mumbai Metropolitan region with 105 million square feet.

According to sources many IT parks are being set up in Gachibowli and Kokapet in south west of Hyderabad.

The increase in commercial space will create 100000 jobs. Currently 6.5 lakh persons are working in IT and ITeS industries. Similarly there are 1.5 lakh persons working in BFSI related industries.

Due to the coronavirus pandemic, the interest in biotech and life sciences has increased. Thus, the Shamirpet biotech cluster has become a focus of attention of private institutions