Hyderabad’s remarkable economic trajectory, showcasing a Growth (YoY) percentage of 8.47 per cent.
Published Date – 12 April 2024, 03:20 PM
Hyderabad: Hyderabad has clinched a spot among the world’s top 10 fastest-growing cities in the world. According to a comprehensive report by Knight Frank India, in collaboration with the Confederation of Indian Industry (CII), Hyderabad’s staggering GDP growth rate between 2019 and 2035 has propelled it into the global spotlight.
The report unveils Hyderabad’s remarkable economic trajectory, showcasing a Growth (YoY) percentage of 8.47 per cent. In 2018, Hyderabad’s GDP stood at an impressive $50.6 billion in Constant 2018 prices, a figure projected to soar to a whopping $201.4 billion by the year 2035.
Ranked fourth in the report, Hyderabad finds itself in the company of Surat, which secured the top position followed by Agra and Bengaluru. The report, titled ‘India Real Estate: A Decade From Now 2024,’ analyzes the economic and real estate sector potential over the next decade.
The report states that one of the pivotal catalysts propelling India’s meteoric rise is the advent of Real Estate Investment Trusts (REITs), which have injected vital liquidity into the market, attracting a diverse range of investments from both domestic and international sources.
The Indian REITs portfolio showcases Hyderabad’s prominence, with entities such as Mindspace Business Parks REIT boasting a substantial 14.1 million square feet of space in the city. Additionally, the Nexus Select Trust Retail REIT Portfolio contributes significantly with 0.8 million square feet.
The report also sheds light on other major cities’ investment landscapes, highlighting Mumbai’s dominant position with a staggering USD 24.9 billion in investments since 2004, closely followed by the National Capital Region (NCR) securing USD 11.7 billion.
“The top five positions were further solidified with the inclusion of three key IT hubs and emerging IT centers. Bengaluru, Pune, and Hyderabad collectively attracted USD 20 billion in PE investments, primarily fueled by the high demand for IT-centric spaces within these urban centers,” it stated.
According to the report, since 2004, Hyderabad has amassed a total of USD 4.836 billion in PE investments.
TOP 10 FASTEST GROWING CITIES BETWEEN 2019-2035
– Surat:
– Growth (% YoY): 9.17%
– 2018 GDP ($ bn, Constant 2018 prices): 28.5
– 2035 GDP ($ bn, Constant 2018 prices): 126.8
– Agra:
– Growth (% YoY): 8.58%
– 2018 GDP ($ bn, Constant 2018 prices): 3.9
– 2035 GDP ($ bn, Constant 2018 prices): 15.6
– Bengaluru:
– Growth (% YoY): 8.5%
– 2018 GDP ($ bn, Constant 2018 prices): 70.8
– 2035 GDP ($ bn, Constant 2018 prices): 283.3
– Hyderabad:
– Growth (% YoY): 8.47%
– 2018 GDP ($ bn, Constant 2018 prices): 50.6
– 2035 GDP ($ bn, Constant 2018 prices): 201.4
– Nagpur:
– Growth (% YoY): 8.41%
– 2018 GDP ($ bn, Constant 2018 prices): 12.3
– 2035 GDP ($ bn, Constant 2018 prices): 48.6
– Tiruppur:
– Growth (% YoY): 8.36%
– 2018 GDP ($ bn, Constant 2018 prices): 4.3
– 2035 GDP ($ bn, Constant 2018 prices): 17
– Rajkot:
– Growth (% YoY): 8.33%
– 2018 GDP ($ bn, Constant 2018 prices): 6.8
– 2035 GDP ($ bn, Constant 2018 prices): 26.7
– Tiruchirapalli:
– Growth (% YoY): 8.29%
– 2018 GDP ($ bn, Constant 2018 prices): 4.9
– 2035 GDP ($ bn, Constant 2018 prices): 19
– Chennai:
– Growth (% YoY): 8.17%
– 2018 GDP ($ bn, Constant 2018 prices): 36
– 2035 GDP ($ bn, Constant 2018 prices): 136.8
– Vijayawada:
– Growth (% YoY): 8.16%
– 2018 GDP ($ bn, Constant 2018 prices): 5.6
– 2035 GDP ($ bn, Constant 2018 prices): 21.3
