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London, New York, Singapore lead in business environment for tech companies, says Savills

By hockmeng.tay@bizedge.com

March 1, 2015 12:00 AM SGT

Austin, San Francisco and Tel Aviv are the top-ranking cities for tech companies, according to a report by Savills. The firm has identified the 12 global centres at the forefront of tech. While big global centres come up strong for business environment, with New York, Singapore and London as leaders because of their good regulatory environment, access to venture capitalists and investors as well as easy links to other global cities are vital.

In terms of IT skills, tech regulation and infrastructure, Hong Kong, Stockholm and Singapore rank among the highest, with Singapore said to have the fastest broadband speed, at 100Mbps. In fact, smaller cities with their significant creative population offer some things that mega cities do not, including shorter commute time, bike-friendly roads, easier access to amenities, and better work/life balance, but with all the buzz of a large urban centre, according to Savills. For a small tech company with financial backing, securing the right space in the right location is more important than cost. Combining office and residential costs, Savills’ property index shows that Mumbai is the most affordable, with £12 ($25) psf for office rents, whereas London, Hong Kong and Singapore post rents well above £55 psf for established office locations.

This article appeared in the City & Country of Issue 666 (Mar 02) of The Edge Singapore.

Tags:

Singapore tech companies

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