 "Delhi's CP fifth most expensive global office market")
At nearly $157 (Rs 10,048) per sq. ft. per annum, Delhi’s central business district (CBD) of Connaught Place was ranked as the fifth most expensive prime office market in the world, according to a survey.
Mumbai’s Bandra Kurla Complex (BKC) was at the fifteenth position and the city’s CBD of Nariman Point was at the thirtieth position on the Top 50 rankings for global prime office properties, property consultant CBRE's semi-annual Global Prime Office Occupancy Costssurvey showed.
London’s West End remained the world’s costliest prime office market, while Asia continued to dominate the world’s most expensive office locations, accounting for four of the top five markets.
London West End’s overall prime occupancy costs of $267 (Rs 17,088) per sq ft per year topped the “most expensive” list. Hong Kong Central followed with total prime occupancy costs of $254 per sq. ft.,Beijing’s Finance Street ($196 per sq. ft.),the Beijing CBD ($188 per sq. ft.) and New Delhi’s CBD of Connaught Place ($157 per sq. ft.)rounded out the top five.
“Although Delhi’s Connaught Place moved up one spot in the rankings, due to the rupee depreciation; however, occupancy costs in this market remained largely stable due to a positive market sentiment. Mumbai’s BKC and Nariman Point showed a nominal decrease of less than 1 per cent over a 12-month period; while y-o-y office occupancy costs rose by about 2.2 percent in the Bangalore CBD, broadly in line with global inflation,” said Anshuman Magazine, CMD, CBRE South Asia.
Mumbai’s Bandra Kurla Complex (BKC) was at the fifteenth position and the city’s CBD of Nariman Point was at the thirtieth position on the Top 50 rankings for global prime office properties, property consultant CBRE's semi-annual Global Prime Office Occupancy Costssurvey showed.
London’s West End remained the world’s costliest prime office market, while Asia continued to dominate the world’s most expensive office locations, accounting for four of the top five markets.
London West End’s overall prime occupancy costs of $267 (Rs 17,088) per sq ft per year topped the “most expensive” list. Hong Kong Central followed with total prime occupancy costs of $254 per sq. ft.,Beijing’s Finance Street ($196 per sq. ft.),the Beijing CBD ($188 per sq. ft.) and New Delhi’s CBD of Connaught Place ($157 per sq. ft.)rounded out the top five.
“Although Delhi’s Connaught Place moved up one spot in the rankings, due to the rupee depreciation; however, occupancy costs in this market remained largely stable due to a positive market sentiment. Mumbai’s BKC and Nariman Point showed a nominal decrease of less than 1 per cent over a 12-month period; while y-o-y office occupancy costs rose by about 2.2 percent in the Bangalore CBD, broadly in line with global inflation,” said Anshuman Magazine, CMD, CBRE South Asia.