The factors supporting Bengaluru’s top rank include the city’s high long-run economic growth, high availability of office space, and large talent pool. As per Colliers Research, Beijing and Hyderabad as attractive alternatives, and Hong Kong emerging as a potential new option.
Singapore investors are betting big on Indian commercial real estate and other new sunshine sectors, including logistics and warehousing. Major Singapore-based private equity firms are funnelling billions of dollars into the country’s real estate sector, particularly in South Indian cities.
The report also recommends the best urban locations for technology firms. Bengaluru, Singapore and Shenzhen stand out as top choices for starting or expanding technology operations in Asia. Modest long-run growth prospects hold down developed cities like Tokyo and Taipei for the sector. While emerging cities offer high growth potential and low operating costs, they tend to score lower on employment criteria and human aspirational metrics.
Tokyo is the world’s hottest city for new retailer expansion, attracting 63 new retail brands, according to the latest report by global property advisor CBRE, How Global is the Business of Retail?. Space in core areas of Tokyo remain highly sought after despite the mixed signals in the economy and an increase in sales tax of 8% introduced in April 2014.
Bhasin Group has tied up with Singapore-based Andover Leisure Pte to build a 100,000 sq ft aquarium – which would be bigger than Singapore’s Sentosa and Atlanta’s Georgia Aquariums. It will come up in a mall run by the company in Greater Noida. The aquarium, to be titled Blue Planet, is expected to cost $9 million (Rs 45 crore).
Jones Lang LaSalle as part of its most recent initiative to provide ‘best’ service to its clients, owners and sellers, has launched a new customised and dedicated residential portal for Asia Pacific.
An increasing number of Indian nationals working in Singapore are investing in properties in India and other countries, like Malaysia, London, Australia, Thailand and Singapore, according to a local media report.
A prominent group in Singapore plans to act as a facilitator to bring in China’s savings into the Indian economy and other South Asian countries.
Fortis Healthcare (India) Ltd. plans to raise as much as $500 million by hiving off some of its properties into a real-estate investment trust, or REIT, and listing it in Singapore.
Four years after Singapore-based Ascott Ltd, a serviced residence operator, entered India, it has decided to part ways with its local partner in a bid to speed up expansion plans and have more control over its proposed projects.