The technology sector is one of the most important occupier categories in Asia Pacific. For example, the region is now home to 7 of the 22 global fintech unicorns—startups valued at more than US$1 billion. The e-commerce industry has been a major contributor to office leasing demand and is projected to grow substantially in the near term.
Over the last few years, we’ve seen tech firms moving into Grade A office space in prime locations. The first of our tech series reports, “Tech firm office location choice—how does it work in Asia Pacific?”, examined the Silicon Valley-like pockets that have popped up across Asia in cities such as Shenzhen and Bengaluru. Just as financial services companies cluster near stock exchanges, tech companies are also forming clusters.
The tech sector and their office needs
What do tech companies consider when deciding to locate their office? Let’s take a look:
A reliable power supply: When you’re storing large volumes of data onsite and housing a large number of server racks, an unstable power supply is not an option.
Room to grow: It’s no secret that tech is one of the fastest growing sectors. Tech firms frequently need more space as headcounts increase, and large floor plates provide the flexibility and room to grow your team and expand your business.
Good transport links: Would you work for a company whose office is in a remote area with limited transport options? Chances are, you wouldn’t (me neither!). Time spent commuting to work is unproductive. Prioritizing your employee’s quality of life is key to keeping them engaged and productive, so ensure that your office building is easily accessible via public transport.