Connaught Place becomes world's ninth most expensive office location
CP houses the headquarters of several noted Indian firms
The area of Connaught Place is instantly recognisable on any map of Delhi as a big circle in the middle with radial roads spreading out in all directions.CBRE’s chairman, India and Southeast Asia, Anshuman Magazine, said that Delhi, being a prime market, continues to witness significant activity. 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.
Mumbai's Bandra Kurla Complex slipped to 26th position from 16th rank
Hong Kong's Central remains the most expensive location in the world for the past two years
London West End's annual rent is $235 per square feet
Bejing's Finance street jumped three places to 3rd position
Beijing (Finance Street) in China is 3rd on the list with finance, technology and flexible space operators showing solid demand for space. The report said that international demand is expected to pick up on the back of ongoing Chinese financial reforms.
New York (Midtown- Manhattan) ranked sixth with an annual rent of $183.78 per square feet, while New York (Midtown-South Manhattan) is at seventh position commanding rent of $171.56 per square feet.