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Tag: GCC

Hyderabad Sets New Record in Office Leasing as GCCs Drive Growth

Hyderabad has achieved its strongest-ever first-half office leasing performance, recording 7.5 million sq. ft. of office space leased during H1 2026, marking a 29% year-on-year increase, according to a Knight Frank report.

Global Capability Centres (GCCs) continued to power the city’s commercial real estate market, accounting for 45% of total office absorption with 3.4 million sq. ft. leased. Flexible workspace operators also remained a key contributor, representing 27% of total demand.

Despite the addition of 3 million sq. ft. of new office space, vacancy levels dropped significantly to 11.5%, highlighting Hyderabad’s strong demand and healthy market dynamics. Average office rentals also increased by 7%, reaching ₹80 per sq. ft. per month.

The residential sector remained equally resilient, with 19,249 homes sold during the first half of 2026. While new housing launches saw a slight moderation, average residential prices climbed 7% to ₹8,258 per sq. ft. Among the city’s prime locations, Banjara Hills recorded the highest price appreciation.

Hyderabad continues to strengthen its position as one of India’s fastest-growing business and real estate destinations, attracting global companies, investors, and homebuyers alike.

The Hartford launches first Global Technology Centre in Hyderabad

Hyderabad: Hyderabad has become the first home of The Hartford in India with the launch of the company’s first-ever Global Technology Centre (GTC) in the city. The facility was formally announced by Telangana Industries Minister D. Sridhar Babu on Monday.

Marking The Hartford’s maiden entry into India, the Global Technology Centre spans 1,60,000 square feet and is located in the Financial District, Hyderabad. The centre will focus on artificial intelligence, digital innovation, and engineering excellence, supporting the company’s global technology transformation initiatives.

Designed to operate in a start-up-like environment, the centre will enable rapid prototyping, agile development, and seamless cross–time-zone collaboration with The Hartford’s technology hubs in the United States, including Hartford, Charlotte, Chicago, and Columbus.

The facility is expected to scale to a workforce of nearly 1,200 employees over the next few years as it expands advanced digital, engineering, and AI-led capabilities for the organisation worldwide.

Speaking on the occasion, Sridhar Babu said The Hartford’s decision to begin its India journey in Hyderabad follows a familiar global trend.
“When Microsoft expanded beyond the United States, its first major development centre outside the U.S. was built in Hyderabad. When Google entered India, it chose Hyderabad for its largest campus outside Mountain View,” he said.

He added that in recent years, global majors such as McDonald’s, Vanguard, Dai-ichi Life, and Marriott International have also made Hyderabad their entry point into India, setting up Global Capability Centres that drive advanced digital engineering, AI-led operations, and global capability building.