Bengaluru and Gurugram are among the top 5 locations in the Asia Pacific region for the technology companies, owing to supportive business conditions, availability of engineers and real estate growth, a report said. Beijing and Shanghai are the other two Chinese cities that also feature on the top 5 list. “Leading cities are Beijing, Bengaluru, Shanghai, Singapore and Gurugram. These cities score highly in terms of business conditions and innovation environment, as well as providing costs and availability that are supportive for business growth,” a report by property consultant CBRE said. Even though no principal city of the same status as Silicon Valley exists, the technology companies are crowding for office demand in the APAC region. In 2018, the technology sector accounted for 23 per cent of the gross leasing activity, the report noted.
Based on performance in terms of business conditions, innovation environment, cost and availability, the study has listed 15 cities of the region in three categories. On the list of five competent cities alongside Hangzhou, Shenzhen, Tokyo and Seoul, Hyderabad also exists. “However, there is still room for growth in terms of identifying locations where business conditions, innovation and talent come together to form a globally competitive digital hub,” said Anshuman Magazine, Chairman and CEO, of CBRE India.
Meanwhile, another report released on Monday said that the three out of the cheapest ten global cities belong to India. The national capital Delhi also features on the list. Other two are Bangalore and Chennai, the Economist Intelligence Unit report revealed. According to another report curated by Oxford Economics, Chennai and Bangalore are also among the ten global cities with the fastest growing economies.