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Connaught Place World’s 9th Most Expensive Office Area

Connaught Place

New Delhi: The Connaught Place area of the national capital retained its tag of the ninth most expensive office space during the January-March period of 2019 with an average occupancy cost of $143.97 (Rs 9,800) per square feet, a CBRE report said on Wednesday.

At the top of the list was Hong Kong (Central) for the second consecutive year with an average price of $322 per square feet, followed by London (West End) with an average occupancy rate of $222.7 per square feet. Hong Kong’s Kowloon area achieved the third spot ($208.67 per square feet).

In the fourth and the fifth positions of the list were New York’s Midtown Manhattan area ($196.89) and Beijing’s Finance Street ($187.77), respectively.

As per the report, Mumbai’s Bandra Kurla Complex (BKC) and Nariman Point-Central Business District (CBD) ranked at 27th and 40th positions, respectively. In the given position, the current annual prime rent of BKC is valued at $90.67 (Rs 6,213.39) per square feet and the Nariman Point-CBD is valued at $68.38 (Rs 4,685.91) per square feet. (IANS)

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