Sustainability norms: Hyderabad among 20 top Asia Pacific cities in real estate development

Hyderabad has ranked 18th in the list of top 20 cities in the Asia Pacific (APAC) for complying with sustainability norms in the development of the commercial real estate, according to Knight Frank.

Bengaluru has been ranked 14th in the APAC region, while Delhi is at 17th, Hyderabad at 18th, and Mumbai 20th positions. Bengaluru is the only Indian city to achieve the Gold standard category, while Hyderabad, Delhi, and Mumbai were placed in the silver category.

Global property consultant, Knight Frank's APAC Sustainably Led Cities Index rated 36 cities based on urbanization pressure, climate risk, carbon emissions, and government initiatives.

Singapore, Sydney, Wellington, Perth, and Melbourne were the top five green-rated cities in commercial real estate in the Asia-Pacific region.

"New market dynamics have propelled the growth of sustainable development in India. The global commitment to carbon neutrality and Net Zero is firmly focused on creating environmentally-friendly premises has led Indian developers to augment their products to meet the requirements," Shishir Baijal, Chairman and Managing Director of Knight Frank India, said.

With more and more occupiers demanding sustainable, green, and well-standard buildings, he expected these features to become a universal standard in the foreseeable future.

"As indicated in our Sustainability Index, four Indian markets feature in the top 20 in the APAC region which is a good indication of the real estate sector's commitment to creating sustainable development," Baijal said.

The report also noted that India's Green Bonds issuance increased multi-fold year-on-year from USD 1.1 billion in 2020 to USD 6.8 billion in 2021.

As of now, India is the sixth-largest country in APAC in terms of the total amount of green bonds issued in 2021, it added.