By 2030, Hyderabad will add 200 million sqft of commercial space: Sridhar Babu

Hyderabad: Minister for IT and Industries, Duddilla Sridhar Babu, announced that the Telangana State government aims to make 200 million square feet of Grade-A commercial space available in Hyderabad by 2030.

He was speaking at the formal inauguration of the Citizens Global Capability Centre, a joint initiative by Citizens Financial Group (USA) and Cognizant Technologies, held on Tuesday in Nanakramguda. The centre is expected to create opportunities for over 1,000 IT and data professionals in its initial phase, with the workforce projected to double in the next 2-3 years.

56 per cent increase in demand for commercial spaces

The minister emphasised that Hyderabad is rapidly evolving into a global business hub, resulting in a significant surge in demand for high-quality commercial space. Unlike metro cities such as Delhi and Chennai, where demand is tapering off, Hyderabad recorded a remarkable 56 per cent 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 in the previous year.

Extent of Global Capability Centres

Highlighting Hyderabad’s growing global relevance, he noted that the city currently hosts 355 Global Capability Centres (GCCs) from multinational corporations such as Amgen, GlobalLogic, Eli Lilly, Marriott and Cigna, collectively employing over 3,00,000 professionals. More than 70 new GCCs have been established in Hyderabad within just one year.

‘Telangana will contribute one trillion dollars by 2030 to GDP’

Sridhar Babu underscored the State’s vision to not only make Hyderabad a hub for GCCs but also to transform them into global value-added centres focusing on innovation, R&D and product development. He expressed confidence that Telangana’s contribution to India’s GDP will reach one trillion dollars by 2030.

He reaffirmed the State government’s commitment to attracting investments and generating employment for the youth. Criticising attempts by some to deliberately spread misinformation and discourage investment, he stated that under the leadership of chief minister A Revanth Reddy, the government enjoys the trust of the industrial community — with many investors showing keen interest in setting up operations in Telangana.