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Biotech grabs realty sector
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Bangalore, Hyderabad, Chennai rank among the most preferred destinations
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According to the Cushman & Wakefield “Bio Reality in India report 2008,” the biotechnology industry would contribute approximately 140 million sq. ft. to the office demand within India by 2010. Even though the country currently holds a minimal market share of two per cent of the global biotechnology market, it has immense potential to develop as one of the major players by 2010 and is expected to generate $ 5 billion revenues, creating employment for a mill
ion by 2010 through its products as well as services.
C&W conducted a study across 40 cities to evaluate the top 15 locations which have or would witness growth in the sector based on various parameters related to three crucial factors that affect the industry viz. investment environment; social and physical infrastructure; and polices and framework. The maturity in the above factors would foster the pace of development in the sector.
Bangalore, Hyderabad, Chennai, Pune and Mumbai emerge as the preferred destinations to set up a biotech facility and scored considerably high on the parameters with each city having distinct fundamentals/factors driving the growth.
Better infrastructure
These cities hold proven potential and have sustained the confidence of the corporate entities operating under the sector. They offer better infrastructure and talent pool, the two most important factors in setting up a biotech facility.
Sanjay Dutt and Anurag Mathur, Joint Managing Directors, Cushman & Wakefield India, add, “The biotech story is still in its infancy in India, but it appears poised to witness a successful replication of the IT/ITeS precedent. The location preference is also following a similar trend with most of the biotechnology activities currently concentrated in Southern India; however, a strong momentum towards West & North India with increasing interest of the companies is anticipated.”
Bangalore scored high on talent pool, Government policy, investment environment and infrastructural facilities. Apart from being the pulse of the IT/ITeS sector, the city has also witnessed significant development in the biotechnology domain.
It has already witnessed inflow of various companies and research centres including Novo Nordisk, Syngene, Aurigene, Wipro Life Sciences and Novozymes. According to C&W analysis, Bangalore is estimated to witness approximately 6.5 million sq. ft. demand from this sector alone between 2007 and 2010.
Hyderabad advantage
Hyderabad, on the other hand, emerged as a pioneer due to the government initiatives, sector-specific policies and the conducive investment environment. Knowledge Park, Biotech Park, Genome Valley and other projects have come up, giving the city an advantage over others. Over 50 international biotech companies have established their operations in Genome Valley over the last one year. This city would witness development of two biotech SEZs and three biotech parks in the next couple of years.
Chennai scenario
Chennai has experienced a new wave of growth. A world class laboratory infrastructure, TICEL Bio Park, has been established and is in operation since November 2004.
The city would witness the development of three more biotech parks and a biotech SEZ in the coming years.
The Government has planned a Bioinformatics and Genomics centre at Tidel Park to explore the Indian genetic pool, leverage on the pool of Indian bioinformatics scientists and low-cost software skills, facilitate research and enable entrepreneurs to commercialise their findings.
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Property Plus
Bangalore
Chennai
Hyderabad
Kochi
Malabar
Thiruvananthapuram
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