Hyderabad: Govt Plans 200 million Sq. Ft. of Grade-A Commercial Space: Sridhar Babu
Minister for IT and Industries, Duddilla Sridhar Babu, has unveiled an ambitious plan to develop 200 million square feet of Grade-A commercial space in Hyderabad by 2030, signaling a bold move to accommodate the city’s rapid growth as a global business destination.
Hyderabad: Minister for IT and Industries, Duddilla Sridhar Babu, has unveiled an ambitious plan to develop 200 million square feet of Grade-A commercial space in Hyderabad by 2030, signaling a bold move to accommodate the city’s rapid growth as a global business destination.
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The announcement was made during the inauguration of the Citizens Global Capability Center, a collaborative initiative between Citizens Financial Group (USA) and Cognizant Technologies, held at Nanakramguda on Tuesday.
Hyderabad Emerging as Global Business Hub
Highlighting Hyderabad’s emergence as a preferred destination for global enterprises, the Minister said the city is witnessing a surge in demand for premium commercial infrastructure, unlike other metros like Delhi and Chennai where demand is tapering.
“Hyderabad recorded a remarkable 56% year-on-year growth in commercial space absorption last year — the highest in the country. In the retail sector alone, 1.8 million square feet was leased by various firms,” he noted.
Over 355 GCCs Now Operational in Hyderabad
Sridhar Babu emphasized Hyderabad’s increasing global relevance, pointing out that 355 Global Capability Centers (GCCs) from multinational corporations like Amgen, GlobalLogic, Eli Lilly, Marriott, and Cigna are already operating in the city. These centers employ over 3 lakh professionals, with over 70 new GCCs established within the last year.
He stated that the government aims to transform Hyderabad’s GCCs into innovation-driven global value centers, with a focus on R&D and product development.
Vision for Trillion-Dollar Contribution to GDP
Expressing optimism, the Minister said Telangana is well-positioned to make a $1 trillion contribution to India’s GDP by 2030. He reiterated the state government’s commitment to attracting investment and creating employment opportunities for the youth.
Pushback Against Misinformation
Addressing concerns about investment climate, Sridhar Babu criticized those attempting to spread misinformation to deter investors. He assured that under the leadership of Chief Minister Revanth Reddy, the Telangana government has gained the trust of the business community, and that investor confidence is at an all-time high.
