Bfsi: Hyderabad emerges as global BFSI hub with major acquisitions in H1 2024

Hyderabad: In what is sure to cement Hyderabad’s position as a global BFSI (banking, financial services and insurance) hub, nearly half a dozen BFSI giants have acquired space in the city in the first half of 2024. This includes players like Cigna Healthcare, Metlife, Ameriprise and DTCC, which are making their debut in the Hyderabad market with their global opportunity centres, and players like SwissRe and Lloyds Bank, which have expanded their presence, sources in the chief minister’s office told TOI. TOI has learnt that one of the largest office space deals in the first half of 2024 was by Cigna Healthcare for around 9 lakh sq ft, followed by Metlife for around 2.5 lakh sq ft. Companies like DTCC and Ameriprise have acquired smaller space of under 50,000 sq ft. “Hyderabad is seeing its attractiveness grow outside the technology sector. “This trend marks a significant shift, solidifying Hyderabad’s position as a versatile business hub,” said a CMO source.

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