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Connaught Place 9th most costly office area with $153 per sq ft annual rent

IANS/New Delhi 11 Jul 18 | 07:21 PM

Delhi's Connaught Place world's ninth most expensive office location

Connaught Place in Delhi is the ninth most expensive office location in the world, a CBRE report said here on Wednesday.

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"Delhi's Connaught Place moved one notch up to be the ninth most expensive office location with an annual prime rent of $153.26 per square feet from last year's tenth most expensive office location," said the report titled "Global Prime Office Occupancy Costs 2018".

Meanwhile, Mumbai's Bandra Kurla Complex moved down to the 26th position with an annual prime rent of $96.51 per square feet and the central business district in Nariman Point, Mumbai fell from 30th to 37th position with an annual prime rent of $72.80 per square feet, it said.

The most expensive office location in the world is Hong Kong (Central) with annual prime rent of $306.57 per square feet, according to the report. The city held on to the top position for the second consecutive year, it said.

London (West End) and Finance Street in Beijing were second and third in the list.

CBRE's Chairman, India and South-East Asia Anshuman Magazine said: "Strong demand from finance, technology and the e-commerce sectors has fuelled the growth momentum in prime occupancy costs from last year and commercial office market remains a strong growth propeller for the real estate sector."

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