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Business Standard
27-05-2025
- Business
- Business Standard
Bengaluru among top 12 global tech hubs as AI talent hits 1 million
Bengaluru has been named one of the top 12 global tech 'powerhouse' cities in CBRE's Global Tech Talent Guidebook 2025, joining heavyweights like San Francisco, London, Beijing, and Tokyo. The city's tech talent pool has now surpassed one million, placing it among the world's leading technology hubs out of 115 markets surveyed. The report classifies markets as Powerhouse, Established, or Emerging based on talent size, competitiveness, and cost. Bengaluru leads in India's AI talent boom Bengaluru leads India in AI talent and is emerging as a serious competitor to US tech strongholds. Between 2018 and 2023, the city's tech employment grew by 12 per cent, driven by its robust startup ecosystem, 28 unicorns, and investments in AI, data science, and product engineering. Favourable demographics also play a role: 75.5 per cent of Bengaluru's population is of working age—the fourth-highest ratio among the top 12 hubs. This segment grew by 2.4 per cent between 2019 and 2024, ensuring a sustained talent pipeline. In 2024, Bengaluru attracted 140 venture capital (VC) deals worth $3.3 billion, including 34 deals in AI. The presence of leading educational institutions and Global Capability Centres (GCCs) has helped anchor strategic functions locally. Anshuman Magazine, chairman & CEO of CBRE India, South-East Asia, Middle East & Africa, said, 'Bengaluru's rise to global tech powerhouse status reflects India's strategic depth in digital innovation and talent readiness. What's even more promising is the parallel growth unfolding in cities like Delhi-NCR, Mumbai, Ahmedabad, and Jaipur—each contributing uniquely to India's resilient tech ecosystem.' Delhi-NCR and Mumbai stand out The report also highlights Delhi-NCR and Mumbai as key innovation hubs. In 2024, Delhi-NCR closed 183 VC deals worth $1.9 billion, including 42 in AI. Mumbai recorded $4.9 billion in funding across 167 deals, making it one of India's most capital-rich corridors. Emerging cities like Ahmedabad and Jaipur are also gaining traction. Ahmedabad's growth is supported by GIFT City, expected to host 550 firms and employ over 20,000 people. Jaipur, with its strong educational base and lower costs, is attracting startups and IT firms seeking operational efficiency. AI talent drives global corporate strategy Ada Choi, head of research - APAC at CBRE, noted, 'The size and depth of a city's tech talent pool are increasingly influencing corporate location strategies and real estate demand. As companies pursue transformative technologies like AI, they are casting a wider net globally. Bengaluru and other Indian cities are well-positioned to benefit from this shift.' The report added that labour and real estate remain the largest costs for non-manufacturing tech firms. India, US lead in global AI talent Globally, AI-focused tech investment reached $129 billion in 2024. The Asia-Pacific region is home to three of the world's largest tech talent pools: Beijing, Bengaluru, and Shanghai—each with more than one million workers. India and the US continue to lead in AI development talent. As companies expand their search for cost-effective and skilled workforces, Bengaluru is increasingly seen as a strategic tech destination—not just an outsourcing hub.
Time of India
20-05-2025
- Business
- Time of India
Vaishnavi Group expands commercial real estate footprint in Bengaluru to 6 mn sq. ft.
Real estate development firm Vaishnavi Group plans to expand its commercial real estate (CRE) footprint in Bengaluru to 6 million sq. ft. over the next 3–4 years. With 2.2 million sq. ft. of existing Grade A commercial developments, the group aims to add another 3.5 million sq. ft. to cater to the growing demand for premium office spaces in the region. The expansion is part of Vaishnavi Group's larger vision to be a dominant player in South Bengaluru, where strong demand for high-quality office spaces continues to rise. The group recently completed Vaishnavi Senate, a 500,000 sq. ft. Grade A commercial office development located off the Outer Ring Road on Bannerghatta Road. Darshan Govindaraju, Executive Director at Vaishnavi Group said, "As an organisation, we are constantly exploring high-growth markets to develop Grade A assets across various real estate segments. While the Central Business District of Bengaluru has been a long-standing focus, the launch of our latest commercial project in Bannerghatta marks a significant milestone in expanding our CRE portfolio. It also reflects our commitment to offering lifestyle-centric, future-ready spaces that cater to evolving business needs and customer expectations.' A recent CBRE India Office Figures Q1 2025 report underscored Bengaluru's leadership in the Indian office market, with 4.8 million sq. ft. leased in Q1 2025. The city accounted for the highest share of gross absorption among nine major metros, followed by Delhi-NCR and Mumbai. Live Events With over 25 years of experience, 18 million sq. ft. of residential, commercial and retail developments delivered across Bengaluru and Mysore, and over 10 million sq. ft. of projects in various stages of development.
Time of India
10-05-2025
- Business
- Time of India
Retrofitting can unlock ₹1.2–1.6 lakh crore in asset value across Indian offices: CBRE
NEW DELHI: India's ageing office stock presents a significant value creation opportunity, with strategic retrofitting capable of unlocking up to ₹1.2–1.6 lakh crore in capital value, according to a recent report by CBRE South Asia. The report estimates that such upgrades could drive 25–40% asset value enhancement in key commercial micro-markets. To realise this potential, the total investment required is estimated between ₹30,000–40,000 crore, depending on the scale and scope of enhancements. This includes structural upgrades, façade modernisation, HVAC optimisation, ESG compliance, and the addition of employee-centric amenities. The report adds that well-executed retrofits can offer a 3–5 year payback period, driven by improved occupancy, better lease terms, and enhanced tenant retention CBRE estimates that close to 160–180 million sq ft of India's office stock is over a decade old and likely in need of refurbishment or complete repositioning. 'With workplace preferences changing rapidly and tenants now demanding enhanced sustainability, wellness, and smart technology integration, retrofitting offers a high-return solution for landlords and investors,' said Abhinav Joshi , head of research – CBRE India, MENA & SE Asia. The report notes that capital value enhancement post-retrofit could reach 40% in select micro-markets, with rental appreciation potential ranging between 15–35%, depending on location, scope, and quality of upgrades Bengaluru, NCR, and Mumbai lead retrofit demand According to CBRE, over 160–180 million sq ft of India's office inventory is more than a decade old and in need of varying levels of upgradation. Of this, more than 70% is concentrated in three major metros: Bengaluru: 35–40 million sq ft Delhi-NCR : 30–35 million sq ft Mumbai (MMR): 25–30 million sq ft These cities alone represent a retrofit investment opportunity of ₹20,000–25,000 crore, and could potentially unlock over ₹1 lakh crore in capital value post-upgradation. Bengaluru's Outer Ring Road, Whitefield, and CBD/SBD areas lead the demand due to the presence of early-generation IT parks and SEZs. In NCR, the focus is on Gurugram's Udyog Vihar, Golf Course Extension, and Noida's Sector 62/63 belt, where many buildings now face occupancy pressure due to lack of ESG compliance and modern infrastructure. Mumbai's BKC, Andheri East, and Lower Parel also feature prominently in the list of zones with high retrofit potential. Other cities like Hyderabad, Pune, and Chennai are expected to see 10–15 million sq ft of ageing stock each entering the retrofit cycle within the next 2–3 years. 'The retrofitting trend aligns with the maturing of India's office sector, where older assets are under increasing pressure from Grade A+ supply and ESG-compliant buildings,' said Sumit Arora, head – National Operations & Workplace Strategy, CBRE Consulting. Citing recent workplace experience surveys, CBRE notes that 81% of employees expressed a preference for upgraded workspaces offering better lighting, air quality, acoustic comfort, and breakout zones. More than 60% of respondents also stated that high-quality work environments have a direct impact on productivity and talent retention. The report highlights a set of financial and operational value drivers propelling the retrofitting trend in India's office market. Retrofitted buildings in high-demand micro-markets can witness capital appreciation of up to 40%, while commanding 15–35% higher lease rentals due to improved design, efficiency, and tenant experience. Additionally, energy-efficient upgrades such as HVAC optimization, LED lighting, and advanced water systems can reduce operating costs by 20–30% over time. Beyond financial returns, retrofits also help developers and asset owners align with ESG benchmarks, achieve green certifications, and enhance the long-term sustainability profile of their portfolios.
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Business Standard
07-05-2025
- Business
- Business Standard
Indians seeking newer forms of entertainment activities in malls: CBRE
Indian consumers are increasingly preferring active entertainment and newer activities such as trampoline parks, escape rooms, rock climbing, and AR/VR experiences over passive options, even as traditional amusement parks and bowling alleys remain popular. High streets and standalone experience centres are being equally favoured—especially by Gen Z—and consumers are willing to spend up to Rs 4,000 monthly, with a majority willing to spend in the range of Rs 1,000–2,000, according to a survey by real estate consultant CBRE South Asia and Invest India. A relatively smaller portion prefers passive experiences such as immersive art, art fairs, museums, and theatre, the report said. Ram Chandnani, managing director, advisory and transaction services, CBRE India, told Business Standard, 'Across Indian cities, both high streets and shopping malls have evolved into distinct retail ecosystems. Take Bengaluru, for example—micro-markets like Indiranagar have developed into vibrant neighbourhood clusters, largely driven by F&B.' 'They offer a curated retail experience catering to younger consumers who value not just dining but an immersive outing—grabbing a sandwich, coffee, or enjoying a full meal while shopping. These high streets thrive on proximity to residential hubs and infrastructure, which enhances accessibility and footfall,' Chandnani added. On average, over 65 per cent of respondents preferred to focus solely on entertainment experiences or combine them with food and beverages (F&B), as per the report titled Retail Level-up – The Entertainment Edition. Chandnani also highlighted the growing interest from international entertainment brands, such as the US-based dining and entertainment centre Dave & Buster's, introduced by the Malpani Group. 'High-quality entertainment centres are thriving in both metros and tier-II cities, with leading brands reporting similar revenue performance across these markets. This growth is fuelled by a focus on immersive experiences, as developers invest in placemaking through experiential dining, large-format stores, green zones, and community amenities. Regular events further enhance footfall and customer loyalty,' said Chandnani. Anshuman Magazine, chairman and CEO – India, South-East Asia, Middle East and Africa, CBRE, said, 'The entertainment sector's growth is redefining retail real estate in India. As consumers increasingly seek experiential engagement, entertainment formats—particularly family entertainment centres and children entertainment centres—are becoming critical to mall strategies. We believe the integration of experience-driven formats will be central to the next phase of retail development in India.'
