Survey places Delhi's CP as sixth most expensive office location

Delhi’s Central Business District (CBD) of Connaught Place has been ranked as the sixth most expensive prime office market in the world with occupancy costs at $158 per sq ft.
 

According to CBRE’s semi-annual Global Prime Office Occupancy Costs survey, London’s West End remained the world’s highest-priced office market with occupancy cost at $274 per sqft followed by Hong Kong Central with $251 per sq ft and Beijing’s Finance Street at 198 per sqft.
 

But Asia continued to dominate the world’s most expensive office locations, accounting for three of the top five markets, the survey said.
 

Anshuman Magazine, Chairman & MD, CBRE South Asia said, “Although New Delhi’s Connaught Place moved up two places to the sixth spot on the global top 10 rankings over Q1 2014, annual occupancy costs here remained stable because of Rupee appreciation since the first quarter. The Capital has seen a strong leasing environment amid limited availability and shortage of new corporate real estate spaces. Office occupiers from the financial services and media sectors dominated commercial space transactions during the year.”