Bangalore ranked world's 12th tech rich city
Updated: Jul 06, 2015 05:30:53pm
New Delhi, Jul 6 (KNN) Bangalore has been ranked 12th in the list of top 20 technology-rich cities in the world, according to a survey conducted by global property consultant Jones Lang LaSalle (JLL).
According to an annual survey carried out by JLL globally, Bangalore has helped India debut on the 'City Momentum Index' Top 20 list.
“Bangalore (Bengaluru) provides India’s first appearance in the Top 20. Robust demand for commercial space from the technology sector and associated IT-enabled services is boosting office rents,” it said.
India’s only entry in the top 20 league is Bangalore at 12th, ahead of Singapore and New York and clearly leaving its domestic competitors Mumbai and Delhi way behind, at 35th and 53rd, respectively.
London, San Jose and Beijing are top three cities on the list.
“London tops this year’s CMI 2015 as a result of robust economic fundamentals, further boosted by large volumes of cross-border real estate investment and a positive outlook for commercial property prices,” said JLL.
Bangalore’s success has many contributors. The technology sector continues to be a major driver of city momentum, as both the tech giants and start-ups are investing in new technologies, infrastructure and generating jobs.
The city has usually shown alignment between demand and supply, thus demonstrating better predictability and rational movement in rents acceptable to occupiers and capital prices acceptable to developers and investors, it said. (KNN Bureau)
According to an annual survey carried out by JLL globally, Bangalore has helped India debut on the 'City Momentum Index' Top 20 list.
“Bangalore (Bengaluru) provides India’s first appearance in the Top 20. Robust demand for commercial space from the technology sector and associated IT-enabled services is boosting office rents,” it said.
India’s only entry in the top 20 league is Bangalore at 12th, ahead of Singapore and New York and clearly leaving its domestic competitors Mumbai and Delhi way behind, at 35th and 53rd, respectively.
London, San Jose and Beijing are top three cities on the list.
“London tops this year’s CMI 2015 as a result of robust economic fundamentals, further boosted by large volumes of cross-border real estate investment and a positive outlook for commercial property prices,” said JLL.
Bangalore’s success has many contributors. The technology sector continues to be a major driver of city momentum, as both the tech giants and start-ups are investing in new technologies, infrastructure and generating jobs.
The city has usually shown alignment between demand and supply, thus demonstrating better predictability and rational movement in rents acceptable to occupiers and capital prices acceptable to developers and investors, it said. (KNN Bureau)
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