Telangana sets target to create 200 million sq ft grade-A commercial space by 2030

Hyderabad: Telangana has set an ambitious target to make 200 million square feet of Grade-A commercial space available in Hyderabad by 2030. According to Telangana government's assessment, 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. City currently hosts 355 Global Capability Centers (GCCs) from multinational corporations such as Amgen, GlobalLogic, Eli Lilly, Marriott, and Cigna, collectively employing over 300,000 professionals. More than 70 new GCCs have been established in Hyderabad within just one year. Now, the state government aims to make 200 million square feet of Grade-A commercial space available in Hyderabad by 2030. Hyderabad is rapidly evolving into a Global Business Hub, resulting in a significant surge in demand for high-quality commercial space,” said Telangana’s IT Minister Duddilla Sridhar Babu, on Tuesday on the sidelines of the formal inauguration of the 'Citizens Global Capability Center', a joint initiative by USA based Citizens Financial Group and Cognizant Technologies in Nanakramguda.

Sridhar Babu further underscored the state’s vision to not only make Hyderabad a hub for GCCs but to also transform them into global value-added centers 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.

The new GCC by Citizens Financial Group and Cognizant Technologies 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.

“The establishment of Citizens’ first GCC in Hyderabad underscores our shared commitment to driving innovation and transformation in the financial services sector,” said Cognizant President – Americas, Surya Gummadi. “We are excited to partner with Citizens and plan to leverage Cognizant Neuo and Flowsource platforms to advance modern banking with future-ready, GenAI- enabled solutions. In addition, Cognizant plans to create a Banking and Financial Services Innovation Center to help clients foster innovation, facilitate collaboration, improve operational security and compliance, data and analytics, cybersecurity, and customer experience,” he added.

As Citizens’ strategic partner, Cognizant will build and operate the GCC, with program governance provided by Boston Consulting Group (BCG).