Bangalore is leading the country’s way forward with its dominant growth frontier offering the new economy sectors — information technology, biotechnology, aerospace, research and development, clean energy and other services sectors — a new growth paradigm, says HM Group, a leading real estate company of Bangalore.
A latest report by CBRE – ‘Bangalore: The Star That Shines the Brightest’ – revealed that the city has led the country’s corporate real estate market among leading cities over the last five years in terms of office space stock as well as office space absorption trends.
Bangalore has been the first Indian office hub to join the global club for 100-million-sq ft office markets in mid-2013. This was a result of a consistent demand for office space which drove commercial real estate development of Bangalore, said HM Group, which itself has multiple commercial projects in the city.
The city’s overall commercial office stock stands at about 127 million sq ft compared to other prominent commercial hubs such as Delhi National Capital Region (NCR) (95 million sq ft) and Mumbai (87 million sq ft).
With enhanced economic sentiments, sturdy corporate occupier interest, and its intrinsic strengths as a hub for technology, R&D, and shared services platforms, HM Group has multiple commercial projects running successfully in the city. These include HM Zeta, HM Info Park, HM Tech City, HM Astrid, HM Geneva House, HM Tower, HM Vibha, HM Eleganza, and HM Rochester.
“Demand for commercial locations in Bangalore has been increasing with time. Government policies like Digital India, Make in India, and Skill India are expected to further enhance the business prospects for Bangalore,” said the official spokesperson of HM Group.