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Meta has renewed its lease for 367,000 sq ft of office space at The Skyview in Hyderabad's Hitec City for five years, with a total rental outlay exceeding INR 170 crore. Monthly rents surpass INR 2.8 crore, with a 15% hike slated for 2026. The renewed lease underscores Meta's commitment to its Hyderabad operations, a key hub for its workforce in India. This move reflects a broader trend of multinational corporations securing prime office spaces in India's thriving commercial hubs, driven by robust IT infrastructure and skilled talent. Similar lease renewals by Nvidia and CA Technologies highlight the sector's resilience and growth.
Meta has renewed its lease for 367,000 sq ft of office space in a commercial tower located in Hyderabad's Hitec City. The lease has been extended through two agreements, securing the premises for an additional five years. Advertisement
As part of the renewed agreements, Meta will pay monthly rentals exceeding INR 2.8 crore, with the total outlay for the term surpassing INR 170 crore. The agreements include a clause stipulating a 15% escalation in rent, effective January 2026. Additionally, the company has submitted a security deposit equivalent to six months' rent, amounting to INR 16.8 crore. The office space is situated in The Skyview, a commercial complex jointly developed by RMZ and My Home Group.
One of the lease renewals was finalised in April, with the most recent agreement concluded earlier this month, according to data obtained from real estate analytics firm Propstack.
Meta's decision to extend its lease highlights its commitment to maintaining its operations in Hyderabad, a pivotal centre for its workforce and technological initiatives in India. The move comes amid heightened competition in the office space sector, with multinational corporations seeking prime real estate to support their expanding activities.
Hyderabad continues to solidify its position as one of India's most attractive commercial real estate markets, buoyed by a robust IT infrastructure and ecosystem. India's commercial real estate sector has seen an upswing in lease renewals and new agreements, signalling strong demand and long-term confidence in major cities.
This decision aligns with a broader trend among multinational companies to secure prime office spaces in India's thriving commercial hubs. Other leading companies have followed suit in renewing their leases. For instance, CA Technologies extended its lease for over 108,000 sq ft in Pune's Eon Free Zone for five years. Similarly, Nvidia Corp renewed its lease for more than 375,000 sq ft in Pune's Yerwada for a decade.
The steady demand for office spaces, bolstered by a skilled talent pool and robust infrastructure, showcases the resilience of the Indian real estate sector. With the adoption of hybrid work models and positive economic indicators, India continues to emerge as a preferred destination for global corporations, underscoring the country's pivotal role in the global commercial real estate landscape.
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