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According to property consultant during 2014, Bangalore the IT hub is predicted to be the second largest demand for workplace area within the Asia Pacific region in a list topped by Tokyo.
Bangalore is predicted to ascertain the second highest absorption within the APAC region and therefore the highest demand within the country as a result of growth of the IT, ITeS and multinational corporations.
During 2014, Tokyo is forecast to notice the best workplace absorption among the thirty cities in Asia in 2014 at 7.6 million sq.ft, accompanied by Bangalore at second position and Manila at third, with expected absorption of 6.3 million sq.ft and 6 million sq.ft, severally.
In all 30 main cities tracked within Asia Pacific the demand for office is likely to reach 60 million sq.ft.
The National Capital Region is predicted to observe the 6th highest net involvement of office spaces in the region at 3.7 million sq.ft expecting a rise of approximately 10% over 2013.
Going forward in 2014 and 2015 the demand for office space for commercial will increase. The over supply scenario, that most cities across the country are witnessing, can ease from 2014 forward as economic conditions improve globally and domestically.
The growth of IT/ITeS sector has been considerably affected by the global economic situation.
With a lot of suitable dollar to rupee interchange rate and also the improvement in international economic situation, we tend to expect the business to profit in terms of enhancing the exports of IT/ITES services from India.
An expected improvement in overall condition within the last half of 2014 would lead to company undertaking additional enlargement activities, which is able to propel the demand for workplace area.
Net absorption is probably going to extend by 31% over 2013 at 29.5 million sq.ft. The cities to achieve majority of the net absorption are going to be the same as 2013, with Mumbai, Delhi NCR, Pune and Bangalore.
Bangalore is a right place in India for foreign investors as there is increased interest by private equity players for project with strong fundamentals as designated by the trends from last 2 years.
Bangalore is predicted to ascertain the second highest absorption within the APAC region and therefore the highest demand within the country as a result of growth of the IT, ITeS and multinational corporations.
During 2014, Tokyo is forecast to notice the best workplace absorption among the thirty cities in Asia in 2014 at 7.6 million sq.ft, accompanied by Bangalore at second position and Manila at third, with expected absorption of 6.3 million sq.ft and 6 million sq.ft, severally.
In all 30 main cities tracked within Asia Pacific the demand for office is likely to reach 60 million sq.ft.
The National Capital Region is predicted to observe the 6th highest net involvement of office spaces in the region at 3.7 million sq.ft expecting a rise of approximately 10% over 2013.
Going forward in 2014 and 2015 the demand for office space for commercial will increase. The over supply scenario, that most cities across the country are witnessing, can ease from 2014 forward as economic conditions improve globally and domestically.
The growth of IT/ITeS sector has been considerably affected by the global economic situation.
With a lot of suitable dollar to rupee interchange rate and also the improvement in international economic situation, we tend to expect the business to profit in terms of enhancing the exports of IT/ITES services from India.
An expected improvement in overall condition within the last half of 2014 would lead to company undertaking additional enlargement activities, which is able to propel the demand for workplace area.
Net absorption is probably going to extend by 31% over 2013 at 29.5 million sq.ft. The cities to achieve majority of the net absorption are going to be the same as 2013, with Mumbai, Delhi NCR, Pune and Bangalore.
Bangalore is a right place in India for foreign investors as there is increased interest by private equity players for project with strong fundamentals as designated by the trends from last 2 years.
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