apac: Bengaluru ranks second in APAC’s list of high-tech hubs

Bengaluru is one of the technology hubs in the Asia Pacific, close behind Beijing, followed by Chennai, Hyderabad and Delhi driven by talent and demand for quality office space from local and international companies, according to a report by Cushman and Wakefield.

Globally, more than 115 tech cities were identified in 46 high-tech markets and six of the 14 cities in the Asia Pacific region were in India.

The country added more than 500,000 jobs last fiscal year, the study found.

Anshul Jain, MD, India and Southeast Asia said, “IT and technology-enabled sectors will continue to be a key driving force for the Indian economy.” “Strong market fundamentals coupled with key policy changes have made India an attractive investment hub for global IT players, but also a highly sought-after destination for acquiring global technology talent and setting footprints for further expansion.”

In addition, Bangalore’s tech sector averages 38-40% annual lease share, higher than the national average of 35%, the report said.

Home to Microsoft and Facebook, Hyderabad has more than 44 million square feet of office projects under construction nationwide.

Chennai, another southern city, is the second largest exporter of software and one of the largest data center markets in India.

Experts say technology rental growth will continue.

“Demand has been stable so far. Mahesh Khaitan, Director, Sattva Group, said, “If the pace of demand is not hit by the global financial crisis, we expect to reach business absorption levels in 2019.”

The global property consultancy reveals that Asia Pacific is home to 14 technology cities globally.

The large scale A office projects in these locations along with the huge talent pool and affordable office rents have attracted national and international technology companies to these cities.’

We are very aggressive about India. It is mainly driven by certain external and internal factors. Even as the COVID-19 pandemic grips the world, Indian IT services have benefited by recruiting nearly 1 million people. So that innateness is what drives us and makes us marketable,” said Gauri Shankar Nagabhushanam, CEO of India Business Parks, CapitaLand Investment.

India’s tech sector has been able to weather the initial impact of the pandemic, growing faster and outperforming other sectors. Office utilization and technology hiring in major Indian cities have fully recovered from pre-pandemic levels in the two-year period.

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