Hyderabad among top life sciences hubs in world
Spread over 2,000 acres, Genome Valley currently has over 10 million sqft of R&D and manufacturing space. In 2024 alone, Hyderabad saw 2.4 million sqft of space leased by life sciences companies, up from 1.8 million sqft in 2023 and 0.6 million sqft in 2022, as per CBRE.Globally, the report said, the life sciences sector is influencing the growth of the realty sector, with over 35 million sqft of lab and R&D facilities under construction in 2024. In India too, the sector is witnessing its highest-ever office space leasing activity with the gross office leasing jumping 56% to about 5.8 million sqft in 2024 as against 2023.Globally, though the US leads with hubs such as Boston-Cambridge, San Francisco Bay Area, San Diego, Washington DC-Baltimore, Philadelphia, Raleigh-Durham, Los Angeles, Denver-Boulder, New York City, Houston, and Chicago in terms of total life sciences lab and R&D inventory, it is Beijing that leads globally when it comes to R&D space under construction.Anshuman Magazine, chairman & CEO - India, South-East Asia, Middle East & Africa, CBRE, said, "Hyderabad's rise as a global life sciences manufacturing hub reflects the growing maturity and competitiveness of India's life sciences sector. The city's robust infrastructure, progressive policies, and exceptional scientific talent have made it a preferred destination for global pharmaceutical and biotech firms."
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