New Delhi: Led by Hyderabad, six Indian cities including the national capital and Mumbai are among top 10 investment destinations in the realty sector in the Asia Pacific region, owing to growth prospects in commercial office activity, says property consultant Cushman & Wakefield.
While Hyderabad emerged as the number one on destination in the region, Bengaluru and Mumbai were ranked sixth and seventh respectively, as per the report, ‘Betting on Asia Pacific’s Next Core Cities’. Pune, Chennai and New Delhi were at eighth, ninth and tenth positions.
Most of the global investments for this year will be made in commercial office assets in markets such as Bengaluru, Chennai, Delhi-NCR, Hyderabad, Mumbai and Pune are well placed to outperform other cities from emerging economies in Asia Pacific, the report said.
Cushman & Wakefield senior director, Research Services, Siddhart Goel said that having learnt many valuable lessons from 2005-08, global investors are now well equipped to take advantage of the potential that Indian real estate markets offer.
“The country is firmly on track to becoming an economic powerhouse with strengthening GDP, better business environment and investor-friendly policies by the central government,” he added.
The Cushman & Wakefield report analysed markets that will offer investors the opportunity to tap into their long-term growth fundamentals, which will become increasingly viable due to sustained reforms. Other cities on the list include Bangkok, which ranked third and Manila at the fourth position. China’s Guangzhou and Shenzhen have been placed at the fifth and sixth position, respectively.
“Sectors such as BFSI (banking, financial services and insurance), healthcare, consulting services and various manufacturing industries are increasingly driving demand for commercial spaces,” Goel said.