IT firms to extend presence in Hyderabad after investments | 16 November 2012
IT companies in Hyderabad will grow to occupy 12 per cent of the city’s office space by the end of the year.
The Andhra Pradesh capital’s technology sector is fourth highest in the country in terms of IT exports and is currently on course to post a high level of growth in 2012 – this despite operating in a tough economic climate.
Thehindubusinessline.com claims that rather than scaling back, the 1,206 IT firms found in Hyderabad are looking to invest in more commercial properties and will eventually increase their presence by 15 per cent.
Backing up the claims at the eIndia summit, AP Minister for IT Ponnala Laksmaiah said: “The office space by IT firms in Hyderabad is expected to touch 20 million sq ft this year, representing 12 per cent of the country’s office space in the sector.”
Growth beyond 2012 will then be aided by the IT Investment Region, a government-approved technology hub comprising production units, public utilities, logistic, environment protection mechanism and administrative services, which is set to undergo construction over the next 25 years.
Business-standard claims that on top of the 300,000 workers already employed by the city’s IT firms, the new technology hub will create a further 1.5 million jobs for the city.
Mr Laksmaiah claims the new site is likely to require 50,000 acres of space and will be built over two phases.
The views expressed in this post are those of the author and are not necessarily those of Qube Global Software. All facts are verified where possible directly by the author.
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