Bengaluru ranks second after Beijing on the list of top technology hubs in the Asia Pacific region, according to property consultant Cushman & Wakefield.
In its latest report ‘Tech Cities: The Global Intersection of Talent and Real Estate’, the consultant has identified tech markets based on 14 criteria across talent, real estate, and business environment metrics.
The report has identified “Bengaluru, Chennai, Hyderabad, and Delhi as the top technology hubs in the APAC region after Beijing”, the consultant said in a statement.
Bengaluru leads India with 2,30,813 tech job creation during the last fiscal, followed by Chennai with 1,12,781, Hyderabad with 1,03,032 and Delhi with 89,996 jobs.
“The IT and tech-driven sectors remain the key driving force for the Indian economy,” said Anshul Jain, MD, India & South East Asia.
“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,” Jain said.
Bengaluru is one of the largest contributors to office space leasing with an average share of 25-30 per cent in annual pan-India leasing activity between 2017 -2021.
The tech sector has accounted for an average 38-40 per cent share in annual leasing activity in the Bengaluru office market, which is higher than the national average of 35 per cent.
“Tech occupiers are largely dispersed across the city, however, commercial real estate infrastructure at Outer Ring Road and Peripheral East (Whitefield) have made these locations the prominent tech-centric markets of the city due to their scale of developments and offerings,” the consultant said.
Large scale Grade A office projects in these submarkets offering state-of-the-art facilities for employees have attracted both national and global tech companies over the past two decades, it added.