Delhi

Bengaluru most preferred in Asia Pacific for office space

 

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 here 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. 

 

"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. 

 

Source:-  https://economictimes.indiatimes.com/wealth/personal-finance-news/bengaluru-most-preferred-in-asia-pacific-for-office-space/articleshow/63829487.cms

Written by The Realty Paper


No comments yet

Leave a Comment

Your email address will not be published. Required fields are marked*