Hyderabad Ranks No. 7 in Colliers Asia’s Top Locations
Colliers International, a global leader in commercial real estate services today released its latest research report ‘Top Locations in Asia: Technology sector’. The report, based on a comprehensive study of 16 cities in developed and emerging markets across Asia, examines nearly 50 criteria across a spectrum of socio-economic, property and human factors to determine the viability of these cities as tech hubs as a workability index for the tech sector.
While Bengaluru tops the charts, Hyderabad has been ranked number 7 and makes a surprise entry, scoring highly on long-run growth potential, although it scores less on other socio-economic factors and does not yet match Bengaluru as a source of talent. As per Colliers Research, with about 56 million square feet (5.2 million sq m) of office space, Hyderabad is only about 40% of Bengaluru’s size. However, development is proceeding apace, with total stock set to increase by 33 million sq ft or 60% by 2021.
“The fact that technological development is focused in one district, HITEC City, which makes planning in Hyderabad relatively easy. Additionally, the tax rates and cost of living are low, and Hyderabad scores better than most other Indian cities on other human factors such as quality of living, air pollution, and traffic levels,” says Ritesh Sachdev, Senior Executive Director, Occupier Services at Colliers International India.