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.
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.