Rapid growth by tech companies continues to fuel office demand in Asia Pacific and spur the development of state-of-the-art headquarters buildings across the region. Tech firms accounted for 23% of total leasing activity in 2018 and have constructed over 8 million sq. ft of new headquarters space over the past two years.
This trend is also driving the formation of designated areas for the tech sector in many markets. Authorities are seeking to form agglomerations of tech companies as they strive to establish their city as the next Silicon Valley, which remains the world’s leading tech hub.
Most firms place high importance upon access to talent and supportive business conditions capable of nurturing growth and innovation. Cost also remains a key criterion for tech companies seeking to establish a base of operations.
Tech companies are also increasingly seeking locations that provide eco-systems capable of accommodating best-in-class tech giants as well as start-ups and unicorns specialising in innovative new products.
This report by CBRE identifies Asia Pacific’s leading tech cities by assessing 15 markets according to their business conditions, innovation environment, and cost and availability.
It also includes an in-depth look at recruiting tech talent, China’s up-and-coming tech hubs, and the evolution of Indian tech BPO firms.