Following it are Singapore and Shenzhen– in terms of starting and expanding technology operations in Asia, said the report on Wednesday.
Joe Verghese, Managing Director, Colliers International India, stated that: “Bengaluru’s boost comes from its socio-economic strengths that has set it to be the fastest-growing in Asia with an average predicted annual GDP growth of 9.6% till 2022.”
He also emphasized that as the natural hub for technology start-ups, Bengaluru has attracted the highest quantum of start-up investments at an annual average of $4bn over the last three years.
The report named “Top Locations in Asia: Technology sector” identified that “Bengaluru scores 68% in the ranking and comes first overall. Bengaluru is the largest office market in the country with total Grade A stock of 141 mn square feet (13.1 mn square metre) spread across multiple micromarkets.”
The report also stated that Bengaluru is set to become the fastest-growing city in Asia over the next five to ten years and will reap benefits from a wide and deep talent pool. The other Indian cities which figure among the top 10 are Hyderabad and Mumbai. Hyderabad ranked seventh, while Mumbai ranked tenth. Delhi-NCR, on the other hand figured at the 11th position.