Bengaluru most preferred for office space in Asia-Pacific; beats Shanghai and Singapore, says CBRE report

Bengaluru is the most preferred city for office expansion in the Asia Pacific region, followed by Shanghai and Singapore, a report by CBRE said

IANS April 19, 2018 16:03:38 IST
Bengaluru most preferred for office space in Asia-Pacific; beats Shanghai and Singapore, says CBRE report

New Delhi: Bengaluru is the most preferred city for office expansion in the Asia Pacific region, followed by Shanghai and Singapore, a report by commercial real estate services firm CBRE said in New Delhi on Thursday.

The CBRE Asia Pacific Occupier Survey 2018 said: "Although Shanghai has a large volume of new office supply, strong expansionary demand is expected to limit downward pressure on rents.

Bengaluru most preferred for office space in AsiaPacific beats Shanghai and Singapore says CBRE report

Representational image. News18

"In contrast, large scale pre-commitments to space in new projects in core areas of Bengaluru is tightening space availability."

It added that the marketwide supply shortage in Singapore could also pose a challenge for occupiers seeking space there.

"In India, multinationals are focusing on expanding in Bengaluru and smaller cities across the country, but have limited growth plans in the Delhi-NCR (National Capital Region) and Mumbai," the report observed.

The demand-supply mismatch exists in New Delhi and smaller markets in the country, along with China's Tier-1 cities, which are facing "considerable oversupply", according to the report.

The survey was done among 50 corporate real estate executives from multinationals and large Asian corporates from October to December 2017, it said.

Updated Date:

Find latest and upcoming tech gadgets online on Tech2 Gadgets. Get technology news, gadgets reviews & ratings. Popular gadgets including laptop, tablet and mobile specifications, features, prices, comparison.

also read

COVID-19 management becomes a game of musical chairs in BS Yediyurappa's Karnataka
India

COVID-19 management becomes a game of musical chairs in BS Yediyurappa's Karnataka

A power struggle between K Sudhakar and his cabinet colleague B Sriramulu, who was divested of the health and family welfare portfolio on Monday, is among the many reasons for Karnataka being third in terms of COVID-19 cases in the country

Veteran Kannada music composer Rajan passes away at 85 in Bengaluru
Entertainment

Veteran Kannada music composer Rajan passes away at 85 in Bengaluru

Rajan along with his brother Nagendra composed music for over 375 films together, starting with 1952's Kannada feature Soubhagya Lakshmi.

Bengaluru FC launch mental health care programme for team
Sports

Bengaluru FC launch mental health care programme for team

The programme entails bringing on board a professional mental health expert who will conduct regular sessions with the first team and staff, along with sessions for the academy teams.