New Delhi's Central Business District (CBD) of Connaught Place was ranked the ninth most expensive prime office market in the world with an occupancy cost of $153.89 per sq. ft. or about Rs 10,000 per annum. According to the latest edition of CBRE Group bi-annual Global Prime Office Occupancy Costs survey, occupancy costs Connaught Place were higher than Dubai, Downtown Boston and Shanghai while Mumbai's Bandra Kurla Complex (BKC) was ranked 20th on the list.
"Despite the fact that Connaught Place has limited supply of prime office space, its location in the heart of India's capital, coupled with great infrastructure and connectivity to other parts of the city, makes it an ideal location for any business to be in. With India's commercial real estate segment continuing to do well, prime locations across the country including Connaught Place in Delhi and Bandra Kurla Complex and Nariman Point in Mumbai continue to witness demand for prime office space from occupiers," says Anshuman Magazine, Chairman, India & South-East Asia, CBRE.
Asia continues to dominate the list of the world's most expensive office locations, accounting for seven of the top ten markets, according to the survey, with Hong Kong (Central) ranked as the world's highest-priced office market with an overall prime occupancy costs of $302.51 per sq. ft. per annum. London's West End came in second.
"The top 10 list remains largely consistent, reflecting the ongoing strength of these global gateway cities in attracting and maintaining a successful occupier base," CBRE said.
Apart from New Delhi (Connaught Place - CBD), Beijing (Finance Street), Tokyo Marunouchi/Otemachi) and Shanghai (Pudong) also featured in the top ten list.
New Delhi's Central Business District (CBD) of Connaught Place was ranked the ninth most expensive prime office market in the world with an occupancy cost of $153.89 per sq. ft. or about Rs 10,000 per annum. According to the latest edition of CBRE Group bi-annual Global Prime Office Occupancy Costs survey, occupancy costs Connaught Place were higher than Dubai, Downtown Boston and Shanghai while Mumbai's Bandra Kurla Complex (BKC) was ranked 20th on the list.
"Despite the fact that Connaught Place has limited supply of prime office space, its location in the heart of India's capital, coupled with great infrastructure and connectivity to other parts of the city, makes it an ideal location for any business to be in. With India's commercial real estate segment continuing to do well, prime locations across the country including Connaught Place in Delhi and Bandra Kurla Complex and Nariman Point in Mumbai continue to witness demand for prime office space from occupiers," says Anshuman Magazine, Chairman, India & South-East Asia, CBRE.
Asia continues to dominate the list of the world's most expensive office locations, accounting for seven of the top ten markets, according to the survey, with Hong Kong (Central) ranked as the world's highest-priced office market with an overall prime occupancy costs of $302.51 per sq. ft. per annum. London's West End came in second.
"The top 10 list remains largely consistent, reflecting the ongoing strength of these global gateway cities in attracting and maintaining a successful occupier base," CBRE said.
Apart from New Delhi (Connaught Place - CBD), Beijing (Finance Street), Tokyo Marunouchi/Otemachi) and Shanghai (Pudong) also featured in the top ten list.
New Delhi's Central Business District (CBD) of Connaught Place was ranked the ninth most expensive prime office market in the world with an occupancy cost of $153.89 per sq. ft. or about Rs 10,000 per annum. According to the latest edition of CBRE Group bi-annual Global Prime Office Occupancy Costs survey, occupancy costs Connaught Place were higher than Dubai, Downtown Boston and Shanghai while Mumbai's Bandra Kurla Complex (BKC) was ranked 20th on the list.
"Despite the fact that Connaught Place has limited supply of prime office space, its location in the heart of India's capital, coupled with great infrastructure and connectivity to other parts of the city, makes it an ideal location for any business to be in. With India's commercial real estate segment continuing to do well, prime locations across the country including Connaught Place in Delhi and Bandra Kurla Complex and Nariman Point in Mumbai continue to witness demand for prime office space from occupiers," says Anshuman Magazine, Chairman, India & South-East Asia, CBRE.
Asia continues to dominate the list of the world's most expensive office locations, accounting for seven of the top ten markets, according to the survey, with Hong Kong (Central) ranked as the world's highest-priced office market with an overall prime occupancy costs of $302.51 per sq. ft. per annum. London's West End came in second.
"The top 10 list remains largely consistent, reflecting the ongoing strength of these global gateway cities in attracting and maintaining a successful occupier base," CBRE said.
Apart from New Delhi (Connaught Place - CBD), Beijing (Finance Street), Tokyo Marunouchi/Otemachi) and Shanghai (Pudong) also featured in the top ten list.
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