Bengaluru tech hub: Bengaluru ranked second in APAC high tech hub listing

Bengaluru is shut behind Beijing as one of many high tech hubs throughout the Asia-Pacific, adopted by Chennai, Hyderabad, and Delhi pushed by expertise and a sustained demand for high quality workplace areas from home and multinational corporations, stated a report by Cushman and Wakefield.

Globally, 46 high tech markets have been recognized from greater than 115 tech cities in complete and 6 of the 14 cities within the Asia Pacific area have been in India.

The nation has added greater than 500,000 jobs in IT over the previous monetary yr, the examine stated.

“The IT and tech-driven sectors stay the important thing driving drive for the Indian financial system,” stated Anshul Jain, MD, India & South East Asia. “The sturdy market fundamentals coupled with key coverage modifications haven’t solely made India a beneficial funding hub for world IT gamers but additionally made it essentially the most sought-after vacation spot to search out world tech skills and set footprints for additional enlargement.”

Bangalore additionally noticed the tech sector accounting for a mean 38%-40% share in annual leasing, larger than the nationwide common of 35%, stated the report.

Hyderabad, residence to Microsoft and Fb, has greater than 44 million sq. toes of workplace initiatives below development nationally.

One other southern metropolis, Chennai is the second largest software program exporter and one of many largest knowledge centre markets in India.

Consultants say that the expansion in tech leasing would proceed.

“The demand has been steady to date. We count on to succeed in the 2019 industrial absorption degree if the demand momentum just isn’t hit by world monetary turmoil,” stated Mahesh Khaitan, Director of Sattva Group.

The worldwide property guide exhibits the Asia Pacific is residence to 14 tech cities globally, primarily based on the important thing analysis metrics of expertise, workplace actual property and enterprise setting.

Massive scale Grade A workplace initiatives in these places together with an enormous expertise pool and reasonably priced workplace leases have attracted each nationwide and world tech corporations in these cities.’

“We’re fairly bullish about India. It is primarily pushed by sure exterior and inner components. Whereas the COVID-19 pandemic was a dampener throughout the globe, the Indian IT providers have benefited from it with near 1 lakh folks being recruited. So that’s the internality which is pushing us and making us decide to the market,” stated Gauri Shankar Nagabhushanam, CEO, India Enterprise Parks, CapitaLand Funding.

The Indian tech sector has been resilient to the preliminary results of the pandemic, rebounding shortly and outpacing most different sectors. Workplace-using and tech employment absolutely recovered to pre-pandemic ranges inside two years in main Indian cities.

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