Connaught Place of Delhi is 7th most Expensive Destination

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According to CBRE property consultant Delhi’s Connaught Place has dropped mark to become the world’s seventh most valuable office destination.

CBRE (Commercial Real Estate Service) said “New Delhi’s CBD (Central Business District) of C.P (Connaught Place ranks 7 Th most highly expensive major office market in the world, with annual occupancy cost of United States Dollar 149.71 per square fee

With prime ownership costs of United State Dollar 290 per square feet per annum Hong Kong became the huge priced office market, pursued by London Central with yearly occupancy cost of USD of 262.29

On Beijing Finance Street is on 3rd, Beijing Central Business District is on 4th and Hong Kong west Kowloon is on 5th position.

Top 10 most costly office markets are Tokyo, London, New York and Shanghai

In ranking given by CBRE declared last December, London Central West End was given no. 1 position while Delhi’s Connaught place scores 6th position.

“Commercial real estate market in India has observed positive development over the past year. At 7 rank C.P (Connaught Place) attracting constantly occupiers and observes solid sublease activity for space for front office.” Said CBRE South Asia Chairman and Managing Director Anshuman Magazine.

He said” Connaught Place central location and comfort connectivity to attract reputed big corporate offices like financial institution, mainly banks and engineering firms”.

Anshuman Magazine said, Due to satisfactory supply of quality space India has always been an attractive destination for many MNCs to broad their operations or set up new offices.

In Pacific Asia major office ownership price grew faster than universal average.

Including Jakarta and Singapore some Southeast Asian markets registered decline.

Commercial Real Estate Service step ownership cost for major offices space in 126 markets universally. Among top 50 top expensive markets 20 in Asia Pacific,20 in Europe, 10 in Americas.





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