LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » India News

Connaught Place 9th costliest office market in the world; Mumbai lags: CBRE

According to CBRE's latest bi-annual global prime office occupancy report, Connaught Place in New Delhi has been ranked as the 9th costliest place for office loaction in the world which makes it costlier than Dubai, downtown Boston and Shanghai.

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Connaught Place 9th costliest office market in the world; Mumbai lags: CBRE
According to the report, Central in Hong Kong and West End in London remain the two most expensive markets in the world, while the top 10 list remains largely consistent. Representational Image. Image Source: Pixabay
Written By: PTI
Updated: Fri, Jun 16, 2017
03:29 pm
Mumbai , PTI
RELATED NEWS
Hyderabad tops APAC region for investment in commercial office space  Hyderabad tops APAC region for investment in commercial office space
Despite demonetisation, Bengaluru, New  Delhi & Mumbai record healthy growth in office rental in Q1: Knight Frank Despite demonetisation, Bengaluru, New Delhi & Mumbai record healthy growth in office rental in Q1: Knight Frank
Real estate, retail, logistics to create maximum jobs in India Real estate, retail, logistics to create maximum jobs in India
Real Estate Act to come into force from tomorrow; here are some of the provisions Real Estate Act to come into force from tomorrow; here are some of the provisions
Gurugram likely to slash property circle rate by 5% in FY18 to boost real estate business Gurugram likely to slash property circle rate by 5% in FY18 to boost real estate business

The nation's financial capital continues to slip on office rentals as Connaught Place in the heart of the national capital continues to remain the most expensive markets in the country and the 9th costliest in the world, says a report.

According to the bi-annual global prime office occupancy costs survey by realty consultant CBRE Group, New Delhi's central business district of Connaught Place is the 9th most expensive office market in the world with an occupancy cost of $153.89 per sqft per annum.

This makes Connaught Place costlier than Dubai, downtown Boston and Shanghai.

ALSO READ: Hyderabad tops APAC region for investment in commercial office space 

As against this Mumbai's Bandra Kurla Complex (BKC) is ranked 20th while the CBD of Nariman Point is ranked 33 on the list of the top 50 most expensive office markets around the world, says the CBRE report.

CBRE India & Southeast Asia chairman Anshuman Magazine said "despite Connaught Place having limited supply of prime office space, its location in the heart of the national capital, coupled with great infrastructure and connectivity to other parts of the city, makes it to be an ideal location for any business to be in."

With the commercial real estate segment continuing to do well in the country, prime locations across the country including Connaught Place and BKC and Nariman Point in Mumbai continue to witness demand for prime office space from occupiers, he noted.

According to the report, Central in Hong Kong and West End in London remain the two most expensive markets in the world, while the top 10 list remains largely consistent.

Central in Hong Kong is the world's highest-priced office market with an overall occupancy cost of $302.51 per sqft per annum and with seven of the most expensive cities, Asia continues to dominate the list of the world's most expensive office locations, according to the survey.

Hong Kong (West Kowloon) ($190.02 per sqft) and Beijing (CBD) ($183.10 per sqft) also feature among the top five most expensive markets this year.

Global prime office occupancy costs, which reflect rentals plus local taxes and service charges for the highest quality, prime office properties, rose 1.9% year-on-year which is lower than the growth rate in Q1 of 2016 (2.2%). On the other hand, occupancy costs in the Americas rose by 3.6%. 

Of the top 50 most expensive markets, 18 were in Asia Pacific, 20 in Europe and the Middle East and Africa (EMEA), and 12 in the Americas. 

ALSO READ: Despite demonetisation, Bengaluru, New Delhi & Mumbai record healthy growth in office rental in Q1: Knight Frank

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Connaught PlaceEconomyInfrastructureMumbaiBandra Kurla ComplexBKCNariman PointCentralWest EndLondonHong KongBeijingoffice rentalDubaiBostonShanghai
RELATED NEWS
Hyderabad tops APAC region for investment in commercial office space  Hyderabad tops APAC region for investment in commercial office space
Despite demonetisation, Bengaluru, New  Delhi & Mumbai record healthy growth in office rental in Q1: Knight Frank Despite demonetisation, Bengaluru, New Delhi & Mumbai record healthy growth in office rental in Q1: Knight Frank
Real estate, retail, logistics to create maximum jobs in India Real estate, retail, logistics to create maximum jobs in India
Real Estate Act to come into force from tomorrow; here are some of the provisions Real Estate Act to come into force from tomorrow; here are some of the provisions
Gurugram likely to slash property circle rate by 5% in FY18 to boost real estate business Gurugram likely to slash property circle rate by 5% in FY18 to boost real estate business

LATEST NEWS

Free Fire OB27 update released in India: Check how to APK download link, new map, characters and more

Tata Metaliks has an order book of 18 months in DI Pipes: Sandeep Kumar, MD

Ravichandran Ashwin roped in as Beetel brand ambassador

In chat with Anil Singhvi, Helios India CIO Dinshaw Irani says we are in bull market

Oppo A74 5G set to launch under Rs 20K on THIS date - Check specifications, features and more

Telangana SSC Inter Exams News: Class 10 SSC exam CANCELLED, Class 12 inter exam POSTPONED in the state - check all details here

Taarak Mehta Ka Ooltah Chashmah fee per episode: Dilip Joshi, Munmun Dutta, Shailesh Lodha, Mandar Chandwadkar, Amit Bhatt—how much they earn

IMD monsoon 2021 outlook: Good news! Rains to be normal this year, says weatherman

Gujarat Board Exam 2021 Latest News: After CBSE, GSEB POSTPONES class 10 class 12 board exams - check all UPDATES here

CBSE class 10 promotion criteria, class 12 board exam dates and will ICSE Class 10, 12 exams be postponed?—All you need to know

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved