Bengaluru has ranked second in the top-tech hub list across Asia-Pacific, according to a report by Cushman and Wakefield. The IT city, followed by Chennai, Hyderabad, and Delhi, scored on talent and demand for quality office spaces from domestic and multinational companies.
Anshul Jain, MD, India & South-East Asia, Cushman and Wakefield said, “The IT and tech-driven sectors remain the key driving force for the Indian economy. The strong market fundamentals coupled with key policy changes have not only made India a favourable investment hub for global IT players but also made it the most sought-after destination to find global tech talents and set footprints for further expansion.”
Globally, around 46 top tech markets were identified from among 115 tech cities, with six of the 14 cities in the APAC region being in India. The report states that the nation has added more than 500,000 jobs in IT over the past financial year.
The report saw the city’s tech sector accounting for an average 38%-40% share in annual leasing, higher than the national average of 35%. Experts believe that growth in tech leasing is expected to continue in the coming years.
Home to Microsoft and Facebook, Hyderabad has over 44 million sqft of office projects under construction. Meanwhile Chennai earned itself the second-largest software exporter tag, being one of the largest data centre markets in India.
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