Multinational companies hold a positive view towards expanding their Asia Pacific office portfolio over the next two years and India remains one of the most preferred markets, says a survey. In India, Bangalore has emerged as the most preferred city for office expansion, according to a survey by real estate consulting firm, CBRE South Asia. “In India, multinationals are focusing on expanding in Bangalore and smaller cities across the country, but have limited growth plans in the Delhi NCR and Mumbai,” CBRE said in its CBRE Asia Pacific Occupier Survey 2018.
CBRE India head (GWS and asset services), Rajesh Pandit, said with each year, the country further establishes itself as one of the world”s most attractive markets for expanding occupiers. “The strategies of multinationals to occupy more office space in Bangalore and emerging cities are testament to this fact,” he added. The survey said occupiers are also taking greater advantage of wider workplace options to drive business performance and attract talent, but will continue to rely on landlord partnerships.
Irrespective of whether occupiers are increasing or reducing space requirements, across Asia Pacific they are poised to commit more flexible corporate real estate solutions to align with company goals, according to the survey respondents. Due to this shift, landlords will increasingly serve as enablers of change and adapt to new demands in greater numbers, it said.