There is no doubt
that the past few years have witnessed one of the most hard times for the
industry in recent times. A lot of oncoming projects were cancelled, business
investment was slow and as a result the demand for office space slowed down
significantly. However, the dawn of new normal has seen comeback in the demand
for office space fueled by business growth of corporate India in the backdrop
of fiscal recovery.
Bangalore which is
the Silicon Valley for the IT industry in India has seen increasing demand for
office space in recent times. There has been an exceptional change in the
commercial sector in Bangalore. With signs in the
global market gaining space, commercial office space at Bangalore has begun to
strengthen, focusing on diversification, affordability and delivery.
The new idea of
office space in Bangalore is no more restricted within four walls, but extended
beyond it. Companies are now impending with new concepts to make working space
as dramatic and creative as possible to enhance the productivity of the
employees.
According to a corporate
communications professional, all this considerable transformation is completely
driven by the presence of MNCs. Their presence to go for Grade A offices have
changed the residential districts into a commercial hub. Yet another latest
concept in the commercial sector is the integrated developments: An idea to
combine work and living in the same vicinity. Such a locality will be inclusive
of school, super specialty hospital, malls, multiplexes, residential complexes,
hotels and the list goes...
Localities in Focus
The outer ring
road (ORR) and Whitefield continue to dominate as favored location choices due
to striking pricing. The cost of business operations would likely be a vital
factor for deciding on the location. Most of the new Grade A office spaces will
be seen along the ORR and Metro rail network. The expansion of IT and aerospace
parks near Devanahalli will also generate a chain of developments in the realty
market. This will come about when the existing spaces within the city and along
the ORR are full.
No comments:
Post a Comment