Knight Frank India, a property consulting firm, in partnership with the Confederation of Indian Industry (CII), has placed Hyderabad among the top 10 fastest-growing Indian cities and foresees a significant surge in its GDP.
According to their recent report, Hyderabad's economy has witnessed a remarkable 8.47% year-on-year (YoY) growth. The city's GDP in 2018 stood impressively at USD 50.6 billion in constant 2018 prices, a figure projected to soar to USD 201.4 billion by 2035.
Titled "India Real Estate: A Decade From Now 2024," the report analyzes the potential of the economic and real estate sectors over the next decade.
It asserts that the rise of real estate investment trusts (REITs) is a key factor driving India's rapid economic growth, injecting vital liquidity into the market and attracting diverse investments from both domestic and international sources.
Hyderabad's significance is evident in the portfolio of Indian REITs, with entities like Mindspace Business Parks REIT boasting a substantial 14.1 million square feet of space in the city. Additionally, the Nexus Select Trust Retail REIT portfolio contributes significantly with 0.8 million square feet.
The report highlights Mumbai's dominant position with USD 24.9 billion in investments since 2004, closely followed by the National Capital Region (NCR) securing USD 11.7 billion. It also sheds light on the investment landscape of major cities.
"The top five positions were further solidified with the inclusion of three key IT hubs and emerging IT centers. Bangalore, Pune, and Hyderabad collectively attracted USD 20 billion in price earning (PE) investments, primarily fueled by the high demand for IT-centric spaces within these urban centers," the report states.
Furthermore, Hyderabad has accumulated a total of USD 4.836 billion in PE investments since 2004.
