|Investors Bet Big Bucks on Bangalore|
|by Tom McGregor||Wed, Jan 1, 2014, 10:41 PM|
Real Estate developers and foreign investors are flooding cash into the city of Bangalore, India.
The Economic Times reports that, "India is likely to witness the second highest demand for office space in 2014 among the top 30 cities in the Asia-Pacific region, according to a report by property consultancy Cushman & , which says Bangalore is expected to be the biggest market in the country due to the expansion of IT, ITeS and multinational companies."
Analysts are speculating that Bangalore could see 16% economic growth for the year 2014.
According to the Economic Times, "Bangalore is the second city in the list with an expected demand of 6.3 million sq ft this year while Tokyo leads the pack with 7.6 million sq ft. "IT/ ITeS has been greatly affected by the global economic scenario impacting the growth of the sector in India. With a more favourable dollar to rupee exchange rate and the improvement in global economic scenario, we expect the industry to benefit in terms of increase in exports of IT services from India," said Sanjay Dutt, executive managing director-south Asia at Cushman & Wakefield."
The suburbs of Bangalore have become prime targets for the burgeoning real estate market.
To read the entire article from the Economic Times, link here:
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