Technology Drives Bangalore Real Estate

Internet retail sales has had a dramatic impact on retailImpact on commercial properties
properties in Bangalore by reinforcing the trendTechnology is generating a net positive effect on the
towards entertainment and convenience orientedoffice employment growth in turn creating a huge
tenants, and enabling retailers to expand intodemand for real estate in Bangalore. The demand for
multichannel distribution systems incorporating Internet"intelligent" building technologies by office tenants is not
sites and "land based" stores.in its infancy. Regardless of the type or size of tenant,
Technology is so pervasive in our society that it isthe key issues driving tenant office leasing decisions
difficult to isolate and evaluate its influence on realare cost, proximity to the boss's residence, access to
estate demand. Technology's influence on demand iscurrent and potential employees, proximity to
generally positive given its fundamental importance tocustomers or clients, and proximity to restaurants and
economic growth.recreation.
"Fortunately, through continuing innovations, adaptingFew industrial property owners are interested in
tenant mixes, and capital investment, retail property"intelligent" building technology. Owners are focused on
owners can moderate many potential declines in retailproviding the backbone infrastructure to enable the
demand from consumers. In the long term, rentwidest range of tenants to be accommodated in their
pressure is expected as and when the communicationproperties.
distribution channel grows," says Zaffar Sait, DGMTechnology has been a key driver of Bangalore's
Business Development, Prestige Group, Bangalore.economy historically, and will be so in the future.
However, technology will significantly reduce demand inAccordingly, while many new technologies appear, in
some areas and increase demand in others, makingisolation, to reduce real estate demand, the net effect
winners or losers out of certain properties orof technology on economic growth and real estate
geographic markets. Investors and other real estatedemand is fairly positive.
professionals who maintain vigilance concerningFor more details on Bangalore Properties, log on to
technology change will outperform their competitors.magicbricks.