Bengaluru becomes the first Indian city ever in property consultant CBRE's list of top 10 cities in Asia Pacific (APAC) to attract the maximum cross-border investments in the region. It is also for the first time that the South Indian city has received over $1.6 billion from foreign investors, in the last financial year.
With the launch of its first Real Estate Investment Trust (REIT) and improved market transparency, the consultant in its Asia Pacific Investor Intention Survey 2019, said that India was among the top five preferred markets in the APAC.
In the month of March, India's first REIT was launched by Embassy Group and Blackstone Group LP which raised Rs 4,750 crore and is expected to catalyse investments in the country, CBRE said.
In 2017-18, the total real estate investment in Bengaluru was almost $800 million, this investment more than doubled annually in 2018-19.
CBRE said that Bengaluru has become a preferred destination on the basis of its growing reputation as the base for several international corporates. Significant talent base and world-class infrastructure is offering several investment grade options in office, retail as well as residential segments, it further added. Overall, however, a stronger interest was seen in the office segment.