Why is Commercial Real Estate booming?
NECTAR
For a decade now, commercial real estate has emerged as India’s new most desirable investment market. Among India’s major cities, Bengaluru stands out as a growth hub. Its thriving IT sector and strongly performing economy-backed fabulous infrastructure have led to a rise in commercial real estate in Bengaluru.
This article explores the reasons for this boom and why more investors and businesses are getting focused on this sector.
The IT Boom and Its Aftermath
Bengaluru was called the “Silicon Valley of India” because of the intense development during the last two decades of the IT industry of this city. This has been seen by bringing multinationals, startups, and technology giants into the business, mainly in Bengaluru. The demand for office space increased as the economy focused on technology-driven businesses. As more companies establish their operations in the city, demand for commercial real estate in Bengaluru continues to grow. The technology parks and business hubs in Whitefield, Electronic City, and Outer Ring Road also form the prime locations for such offices.
Along with boosting the demand for offices, the IT boom has diversified into other sectors like hospitality, retail, and coworking. As companies grow, they seek to add office space for their people, which adds to the need in the commercial real estate market.
Startup Ecosystem
Bengaluru has often been considered the startup capital of India. Many reasons bring this about, but the thriving startup ecosystem of the city has directly boomed commercial real estate in Bengaluru. Entrepreneurs can rely on excellent talent, a great government, and an innovative culture to set up their businesses in Bengaluru.
Yet another aspect, the proliferation of coworking spaces among startups, may owe to its flexibility and affordability for growth. Most startups, freelancers, and even large companies favour the flexibility coworking spaces offer, providing room to scale up or down according to the fluctuations of a business; indeed, it has become highly appealing in Bengaluru’s fast-growing ecosystem. Coworking spaces are thus contributing significantly toward the growth of commercial real estate in the city.
Check out this article on Bengaluru’s ecosystem enabling startups to build and grow!
Infrastructure Development
Infrastructure development in Bengaluru has improved.
THE BUZZ
Prodigy Finance secures $310 million funding
Prodigy Finance , the global leader in higher education financing founded in 2007, recently announced the launch of a new round of funding worth up to $310 million. This marks their second partnership with the U.S. International Development Finance Corporation .
Story Courtesy: Indian Startup News
BUMBLEBEE
HIVE'S FOUR
BLOGOSPHERE
ROYAL JELLY
WORKAPELLA
COMPOUND EYES
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