CBRE South Asia Ltd released Asia Pacific Investor Intensions Survey 2019 report about investor-friendly locations in Asia. And for the first time, an Indian city has appeared in the top 10 locations. Not Delhi NCR or Mumbai MMR, but India’s tech hub Bengaluru is ranked among top 10 Asia-Pacific cities for cross-border investments in real estate.
Indian real estate sector has increasingly emerged as preferred markets in APAC. Thanks to the country’s first REIT by Embassy and global private equity firm Blackstone in March 2019 along with improved market transparency, the global investors are viewing India with renewed interest. As per the survey, there has been greater interest in office properties in India, followed by industrial and logistics, multi-family, hotels and retail for investment in the APAC region.
Due to its global reputation as the home for trans and multi-nationals, Bengaluru has made it to the top 10 locations in Asia to invest in real estate. In fact, Real estate investment in Bengaluru doubled to $1,600 million (₹11,200 crore) in fiscal 2018-19 from $800 million (₹5,600 crore) in fiscal 2017-18.
Bengaluru featured as the first Indian city in the list of preferred investment destination on the basis of its growing reputation across the globe as the home base to several international corporates. The city with a significant talent base and world-class infrastructure is also popular for offering several investment grade options in office, retail as well as residential segments,” said Anshuman Magazine, Chairman and CEO, India, South East Asia, Middle East and Africa, CBRE, Money Control reported.
New infrastructure, flourishing IT and ITES sector and potential growth opportunities in the market are the reasons cited for the rise of Bengaluru as top 10 Asian locations for real estate investment.