Delhi-NCR has emerged as a top pick for office space destination among Chinese companies outside their country, followed by Madrid and Bangkok, according to a report released by a real estate services firm JLL.

According to the report, in 2015-17, the estimated leasing of office in Delhi-NCR by Chinese origin companies was approximately 5,16, 667 sq ft, while in Mumbai it was about 85,537 sq ft.

The report, titled ‘China 12: China’s Cities Go Global’, said that nation’s biggest corporates are growing rapidly and are creating a strong global economic system that is influencing global markets.

“Chinese companies have been making their presence felt in Asia and have set up offices in major markets including India. Even though leasing is still largely driven by US- and EU-based companies in India, Chinese companies are fast setting up base to take advantage of the market size and the accelerated growth of the economy,” said Ramesh Nair, CEO and Country Head, JLL India.

He added that several Chinese companies have expanded their footprint in India in recent times, including Vivo, Oppo, Alibaba, ZTE, Huawei and Xiaomi.

“Corporate presence, leasing activity and investment measures clearly indicate a growing interest from Chinese firms in South and South-East Asia. Delhi, Mumbai, Bengaluru, Jakarta and Kuala Lumpur are likely to be the key targets for Corporate China. As a result, we may see realignment in the corporate geography, as attention tilts towards India and South-East Asia,” said Jeremy Kelly, Director, Global Research, JLL.

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