A view of Outer Ring Road, Bengaluru.
Photo : PTI
As per Oxford Economics’ analysis, Bengaluru is expected to grow by more than six per cent in 2023. Not just Bangalore, Hyderabad too is expected to see similar kind of growth in 2023. The two South Indian cities have attracted several investments in the manufacturing, and information and communication sectors.
The Oxford Economics report said, “While we expect 2023 to be a difficult year for cities in the Asia Pacific region, we still see some bright spots. Notably, we expect cities that are less exposed to weak global trade and those with strength in fast-growing sectors to show some resilience. Furthermore, Chinese cities will probably benefit from a loosening of Covid-19 restrictions in 2023.”
Besides this, as per CBRE’s Asia Pacific flexible office market findings, Bengaluru topped the list of Asia-Pacific region (APAC) cities having the highest flexible stock ahead of 11 major cities. As of September 2022, it recorded 10.6 million sq. ft. (Grade-A Assets), ahead of Shanghai, Beijing, Seoul, Tokyo, and Singapore.
Another independent study said that there is robust growth in new supply led by Bengaluru and Hyderabad in office space as well.
