Bengaluru dominates office leasing in India in 2018: CBRE

Bengaluru dominates office leasing in India in 2018: CBRE

India’s tech city Bangalore seems to be taking over the world by a storm. Thousands of startups and numerous MNC’s including Google, Yahoo, Intel, Microsoft, and others are based out of Bangalore. Due to this economic boom, the demand for corporate spaces has increased tremendously in the last decade.

According to estimates by property consultancy CBRE South Asia, India’s Silicon Valley absorbed 11.6 million sqft of office space in 2018 on a net basis (taking account of vacated space) compared to Tokyo’s 7 million, Shanghai’s 6 million, Hong Kong’s 3 million and Beijing’s 2.5 million.

Apart from MNC’s start-ups such as Swiggy (Food delivery app), Myntra (online retail store) and many more have gone through tremendous growth. This has called for an escalation in demand for corporate spaces, warehouses, industrial units, and others.

This is a cause for huge celebration amongst developers and builders in Bangalore. We can see numerous top builders in Bangalore come up with extravagant large scale corporate spaces along with housing projects and developments.

One often associates real estate investment with housing; however, the rise in corporates and offices has caused a shift in investments. Real estate investments in Bangalore aren’t just confined to housing but also expand to corporates and industries

Shailendra Naidu, executive director, Advisory & Transaction Services, India, CBRE South Asia, “Going forward, we foresee occupiers putting in greater efforts to build in flexibility in their portfolios due to changes in the business environment. The use of flexible spaces is expected to continue, with the concept being adopted not only by start-ups and individuals but also by well-established corporates with fluid expansion/occupation plans.”

DSR TECHNO CUBE

DSR Techno Cube located at Kundalahalli Gate, Marathalli – Varthur Main Road, Bengaluru is a commercial project ideal for co-working and office space. Brought to you by DSR Group, the project is backed by the Group’s three-decade experience of delivering commercial and living spaces to Bangaloreans.

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