‘New Delhi’ Makes its Debut in Global Rental Growth League

May 24, 2007	(1 votes, average: 2 out of 5)  Loading ...
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The list of world’s fastest growing office rental markets in the year to May now has New Delhi as the latest addition. Others are Abu Dhabi in the United Arab Emirates leading the chart followed by Sofia in Bulgaria, says the data showcased by CB Richard Ellis.

Abu Dhabi witnessed to be the world’s most expensive commercial location, where rents doubled during the concerned period.

London and Tokyo, however, still secure their positions as the world’s most expensive office locations, headed London’s West End where occupiers need to pay an average of $241 per square foot for a good commercial space.

Also, the London Districts remain on top of the European rental league. Rents for commercial property in London’s West End were turned out to be double of the value paid in Moscow, Paris and Dublin - Europe’s most expensive office markets outside London, adds the data.

The Capital City grabs the 7th position in top 10, and Mumbai rises to 5th place with its growth being pushed by boom in data centre and IT operations.

Sofia was termed as the fastest growing market, with a 63% appreciation in rentals, as economic expansion in the European Union newcomer attracts several multinational companies and offers a conducive environment for the growth of domestic business.

News Published Under:   Delhi |

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