According to sources a leading consulting firm said india's tech hub Bengaluru is ranked among top 10 Asia-Pacific cities for cross-border investments in real estate. CBRE south Asia Ltd consultant firm from its Asia Pacific investor intensions survey 2019 finding said "Real estate investment in Bengaluru doubled to $1,600 million (Rs 11,200 crore) in fiscal 2018-19 from $800 million (Rs 5,600 crore) in fiscal 2017-18".
Reportedly interest in Indian realty sector picked up after the central government framed a law in 2014 to set up the Real Estate Investment Trust (REIT), which brought in market transparency. The survey revealed "india is among the top five preferred markets in APAC after the city-based property developer Embassy and global private equity firm Blackstone have set up the first REIT in March 2019 as a joint venture in the realty sector".
Moreover the survey also found Bengaluru as one of the fastest growing cities in india owing to the presence of global players in IT, biotech, pharmaceuticals, manufacturing and other growth sectors. The finding added "Over the past two decades, Bengaluru has transformed to india's Silicon Valley from being a Pensioners' Paradise' and has become the hub of research and innovation".
