News: North Bengaluru to add 3.5 lakh jobs by 2025: Meraqi report

Talent Acquisition

North Bengaluru to add 3.5 lakh jobs by 2025: Meraqi report

According to the market study by Meraqi research and Brigade Group, it seems North part of Bengaluru is the next growth destination in the IT Space, a city already considered the jeweled ‘Silicon Valley of India’.
North Bengaluru to add 3.5 lakh jobs by 2025: Meraqi report

As per the research conducted by the Meraqi and Brigade group, North Bengaluru has the potential to add at least another 3.5 lakh new jobs in the city by 2025. The market study states that the north part of the city is likely to gauge 30% overall space absorption by 2025. Already, the area employs over five lakh people and is bound to rise.

The study also mentioned that the Bengaluru International Airport Area Planning Authority (BIAAPA) region has potential to employ around 2.5 lakh people by 2030. It currently employs around 35,000 people. 

Nirupa Shankar, Executive Director, Brigade Group told Hindustan Times that the office market has progressed post COVID impact and demand is expected to continue primarily due to increasing demand for satellite offices which is propelled by a concurrent demand for residential units in the region.

“IT and ITeS remain the key occupier group with high demand for high quality office spaces that are hygienic and health conscious. From an investment angle, the high potential commercial growth of North Bangalore makes it the next growth destination, as commercial establishments will witness steady growth over the next few years, and an additional supply of residential catchment will be created,” she added.

With boom expected by 2025, rental demand is also set to grow with greater connectivity across the ever-growing city after the completion of the Namma Metro's phase 2 project construction. As mentioned above, the likelihood of North Bengaluru becoming the next big business hub is more with additional expectations of providing 3.5 lakh jobs opportunities.

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Topics: Talent Acquisition, #Career, #FutureofJobs, #Hiring

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