ORR: Corridor of growth

The city’s Outer Ring Road which stretches from Hebbal to Silk Board Junction, referred to a ORR, has developed rapidly in the last ten years into an IT growth corridor and accounts for almost 25% of Bangalore’s total IT space, according to the inaugural edition of the IT/ITes Growth Corridor Series released by Vestain Global Workplace Services.

The report places a lot of significance on the emergence of the ORR as a growth corridor for IT/ITeS development in Bangalore.

Connecting the IT hubs

The Outer Ring Road’s IT growth corridor story commenced in early 2000 and with the initiation of Bangalore International Airport (BIA) in 2008 in Devanahalli, the ORR stretch gained importance because it serves as the main artery between BIAL and major IT hubs of Bangalore i.e. - Whitefield and Electronics City.

The few factors that make the ORR one of the most attractive IT growth corridors of Bangalore are the availability of large land parcels and proximity to established IT talent pool and residential hubs when compared with other peripheral locations of Bangalore.

Ongoing infrastructure works aimed to transform the ORR into a signal free corridor and the upcoming hotel and retail projects will further enhance connectivity and support infrastructure in this micro market.

The estimated growth of ORR in 2010 and beyond can be put down as following:

*18.6 million sqft of operational Grade A office space

*3.3 million sqft under construction

*As of H1 2010, vacancy level is only 5% (one million sq ft) and expected to drop further by end of 2010.

*25% of Bangalore’s total operational IT space

*75% of Bangalore’s total operational IT/IteS SEZ space

*95% of office space occupied by IT/ITes companies

*28 million sq ft planned Grade A office space

The CEO of Vestian Global Workplace Services Shrinivas Rao said, “The Vestian Global IT/ ITeS Growth Corridor Report aims to highlight the aspects of ORR that were previously unanalysed.

“We are of the opinion that ORR will to continue to remain an attractive IT/ITeS growth corridor of Bangalore and improve further with planned completion of numerous flyovers/underpasses between Hebbal and Silk-Board Junction by the end of 2011. This will be further enhanced through the upcoming business & social infrastructure. ”