International Finance
Real Estate

Multinational firms strengthen presence in Asia Pacific

multinational corporations, digital enablement tools, India, China, Asia Pacific, South America, Beijing, Asia Pacific, Singapore, corporate real estate, Bangalore, Delhi NCR, Europe, CBRE Asia Pacific Occupier Survey

The expansion is largely targeting China, India and Singapore, reported Moneycontrol. In India, the companies mostly focus on metro cities such as Bangalore, but have limited plans in Mumbai and Delhi NCR, according to CBRE Asia Pacific Occupier Survey 2018.

The third edition of CBRE Asia Pacific Occupier Survey was conducted on 50 corporate real estate executives from various multinationals and Asian corporations between October and December 2017. Nearly 36% of the respondents were from companies headquartered in North America, and 64% of the respondents belonged to Europe and Asia Pacific. Key sectors including technology, media and telecommunications (30%); banking and finance; and  petroleum (22%), oil and gas (10%) were covered.

Rajesh Pandit, Head, GWS and Asset Services, CBRE India said: “With each year, India further establishes itself as one of the world’s most attractive markets for expanding occupiers. The strategies of multinationals to occupy more office space in Bangalore and emerging cities are testament to this fact.”

However, other cities such as Beijing and Guangzhou are listed under low interest based on the survey. “A perfect fusion of solid portfolio expansion, an accelerating workplace evolution and a surge in digital enablement tools is delivering a generational mindset shift in how occupiers view real estate,” Phil Rowland, CEO of Global Workplace Solutions, CBRE Asia Pacific added.

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