Outlook 2023 India

HYDERABAD NEW SUPPLY

NEW SUPPLY (MSF)

18

 Hyderabad is expected to witness new completions of around 16.5 msf in 2022, a historic high.  Supply of 28-29 msf is expected during 2023-2024, with the majority (~57%) being contributed by the Gachibowli submarket, followed by Madhapur (41%).  Beyond 2024, office supply is expected to decline to an average of 5-6.0 msf per year. However, additional projects are currently in the initial stages of planning.

FORECAST

16

14

12

10

8

6

4

2

0

2020

2021

2022F

2023F

2024F

2025F

2026F

Source: Cushman & Wakefield