Good News to Hyderabad IT... Cognizant buys Hyderabad office space for Rs 112 crore!... Nasdaq-listed IT software firm Cognizant has bought a 11.04-acre land parcel that includes a 250,000 sqft operational office space facility in Hyderabad, from Bangalore-based technology park developer DivyaSree. The Rs 112-crore transaction, struck in Hyderabads IT hub of Gachibowli, gives the $7.35-billion IT services company room to further develop around 1 million sqft of office space. Last year Cognizant had bought 18-acres of land in Kochi; work here has begun. Despite political uncertainties over the status of Hyderabad, the citys IT corridor of Madhapur, Kondapur, Hitec City and Gachibowli continue to remain the most active commercial micro-market, owing to the expansion and relocation requirements of IT/ITeS firms. Industry analysts estimate that around 3-million sqft of commercial office space is likely to be released into Hyderabads IT corridors over the next six months. articles.timesofindia.indiatimes/2014-01-13/software-services/46148363_1_cbre-south-asia-cognizant-spokesperson-office-space
Posted on: Wed, 15 Jan 2014 13:04:23 +0000
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