Led by Hyderabad, six Indian cities including the national capital and Mumbai are among top 10 investment destinations in the realty sector in the Asia Pacific region, owing to growth prospects in commercial office activity, says property consultant Cushman & Wakefield.
Bengaluru and Mumbai were ranked sixth and seventh respectively, as per the report, 'Betting on Asia Pacific's Next Core Cities.'
Southern City of India, Hyderabad emerged as the number one on the destination in the region. Apple, Amazon, Google, and Uber have queued up to have their second largest development centres in Hyderabad. All companies are within a radius of 10 km. Hyderabad is home for biggies like Facebook, Microsoft, and Qualcomm.
The Silicon City of India, Bengaluru is ranked the sixth position. The city made their presence felt in the international IT sector. Bangalore alone consists of more than 35 percentage of all the IT companies present in India. Most of the Indian IT companies have their Offices in Bengaluru. The city is home to many multinational companies such as Google, Accenture, Oracle, IBM, HP, GE, Deloitte, Capgemini, HCL, DELL, CISCO, Mindtree, Amazon and many BPOs making it the BPO hub of India.
The major metropolitan city of India, Mumbai is in the seventh position. It was previously known as Bombay. Mumbai city is known as the business capital of India; it is the country's principal financial and communications centre. The city has the largest and the busiest port handling India's foreign trade and a major International airport. India's largest Stock Exchange which ranks as the third largest in the world is situated in Mumbai.
Pune which is known as the cultural capital of Maharashtra is in the eighth position. The residential real estate market in Pune is increasing according to reports. Educational facilities, IT sector boom, job opportunities, life style, infrastructure are the major factors for this.
Chennai, the capital of the state of Tamil Nadu, is in ninth position. Chennai houses some of the best corporate offices including TCS. It also hosts to a lot of industries, especially automobile.
The capital of India, New Delhi were at tenth position.Delhi has had its prestigious place in the history of our country for over 3 centuries now. The political capital, is slowly becoming the business capital as well, as more companies choose Delhi-NCR as their base.
Most of the global investments for this year will be made in commercial office assets as markets in Bengaluru, Chennai, Delhi-NCR, Hyderabad, Mumbai, and Pune are well placed to outperform other cities from emerging economies in Asia Pacific, the report said.
India in growing path
Cushman & Wakefield Senior Director, Research Services, Siddhart Goel said that having learned many valuable lessons from 2005-08, global investors are now well equipped to take advantage of the potential that Indian real estate markets offer. "The country is firmly on track to becoming an economic powerhouse with strengthening GDP, better business environment and investor-friendly policies by the central government," he added.
Bangkok and Manila
The Cushman & Wakefield report analyzed markets that will offer investors the opportunity to tap into their long-term growth fundamentals, which will become increasingly viable due to sustained reforms. Others cities on the list include Bangkok, which ranked third and Manila at the fourth position. China's Guangzhou and Shenzhen have been placed at the fifth and sixth position, respectively. "Sectors such as BFSI (banking, financial services, and insurance), healthcare, consulting services and various manufacturing industries are increasingly driving demand for commercial spaces," Goel said.