The tech capital of India, Bengaluru is the first Indian city to feature in top-ten destinations for cross-border investors across Asia Pacific in 2019, as per a recent study.
As per CBRE, stronger interest in India is attributed to the launch of first Indian REITs and the resulting enhanced market transparency.
“Bengaluru featured as the first Indian city in the list of preferred investment destination on the basis of its growing reputation across the globe as the home base to several international corporates. The city with a significant talent base and world-class infrastructure is also popular for offering several investment grade options in office, retail as well as residential segments,” Anshuman Magazine, Chairman and CEO, India, South East Asia, Middle East and Africa, CBRE said.
The first REIT by Embassy Group and Blackstone Group LP was launched in India in March this year and it is expected to catalyse investments in the country. “Improved investor sentiment in office assets is likely to expose potential quality buildings as a fundraising avenue for developers and also propel major corporations to lease / purchase space in these developments,” mentioned the report.
Bengaluru is considered as one of the fastest growing cities in India. In 2017-18, the total real estate investment in the city was almost $800 million, this investment more than doubled annually in 2018-19, said CBRE.