Mumbai office rentals to rise
Office rentals in Mumbai are expected to grow 11.1 per cent surpassing the growth in London by 2019.
According to Knight Frank report, international finance centres such as London, Tokyo and Hong Kong are estimated to post a 4.5-10.3 per cent in office rentals during the same period. Mumbai ranks 11th in prime rental forecast ahead of London, which is projected to grow at 7.1 per cent.
“ Mumbai is expected to gain due to the government’s emphasis on infrastructure building. This, along with reforms-led growth, would boost the office market in Mumbai. Further, the new development plan 2034 has proposed to give a special focus to support commercial real estate, which will significantly attracts investments in office space markets,” said Samantak Das, national director, research, Knight Frank India.