Bengaluru beats Shanghai and Singapore for the most preferred office location in Asia Pacific

Bengaluru: Bengaluru is listed as the most preferred city for office expansion in the Asia Pacific region.

A report by commercial real estate services firm CBRE said on Thursday Bengaluru is listed as number one, Shanghai and Singapore takes the second and third in the list.

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.”

“In India, multinationals are focusing on expanding in Bengaluru and smaller cities across the country, but have limited growth plans in the Delhi-NCR or National Capital Region and Mumbai,”

CBRE had conducted the survey among 50 corporate real estate executives from MNCs and large Asian corporate from October to December 2017