Bengaluru is the largest office market in India and the biggest in Asia-Pacific region
India’s Silicon Valley absorbed 11.6 million Sq.ft. of office space last year 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, according to estimates by property consultancy CBRE.
Bengaluru has held this position from the past few years as more global companies set up captive technology and back-office centres, attracted by cities talent. Traditional IT companies and domestic new-age ventures have also taken significant space.
“One of the benchmarks of Bengaluru’s broader growth as one of Asia-Pacific’s most dynamic commercial real estate spaces is its embrace of agile real estate strategies,” said Anshuman Magazine, Chairman and CEO of CBRE India, South East, Asia, Middle East & Africa.