Multinationals planning to expand their footprints are focusing on Bengaluru as the preferred city for office expansion in the Asia Pacific region, a recent survey has revealed.
As per CBRE Asia Pacific Occupier Survey 2018, China and India remain the most preferred markets for expansion, followed by Singapore.
“With each year, India further establishes itself as one of the world’s most attractive markets for expanding occupiers. The strategies of multinationals to occupy more office space in Bengaluru and emerging cities are testament to this fact,” said Rajesh Pandit, head (GWS and Asset Services), CBRE India.
According to the survey, nearly 45 per cent of the respondents are looking to increase their corporate real estate portfolios in Asia Pacific in the next two years.
“Leasing space in existing buildings is the preferred means for companies to increase their footprint,” said Pandit.
Flexible office solutions are also gaining currency, with 33 per cent of the occupiers planning to explore the option of co-working space for their space requirements.
Irrespective of whether occupiers are increasing or reducing space requirements, across Asia Pacific they are poised to commit more flexible corporate real estate solutions to align with company goals, according to the respondents.