Hyderabad's commercial real estate sector has again shown its international appeal. FedEx, a global logistics and supply chain company, leased a large office space in the city.
The company secured 1.19 lakh square feet of office space for a five-year term at Phoenix Centaurus IT Park. This park is located in the Gachibowli-Financial District corridor, a key area for IT and commercial activities.
The agreement was finalized with a monthly rent of 93.2 lakh. Over the five-year lease period, FedEx will pay a total rent of approximately 55.92 crore.
International companies are increasingly choosing Hyderabad to expand their operations. They are drawn by the world-class IT and business parks and the improved infrastructure available in the city.
Leading corporate firms from the IT, global capability centers, and logistics sectors are signing rental agreements worth hundreds of crores in Hyderabad. These deals are establishing new benchmarks in the local realty market.
