Delhi’s Connaught place, Mumbai’s Bandra Kurla Complex (BKC) and Bangalore’s central business district of Mahatma Gandhi Road and Brigade Road are among the most expensive commercial destinations for companies in terms of office space rentals in the Asia Pacific region in 2018, according to a report.
While Connaught Place has consistently ranked among the top 10 expensive office locations in the world, it most definitely finds its place in the list for Asia Pacific region. Connaught Place has an average rental of USD 81.4 per square meter per month, according to the report. It is ranked fifth moth expensive place in the Asia pacific region. It is usually ranked 8th or 9th globally every year.
Bandra Kurla Complex, the sprawling office location in the financial capital of India, is ranked at 7th place in the latest report. The rentals in BKC have an average of USD 74.4 per square meters per month. BKC today has presence of almost all the banks of India and some of the foreign ones also, apart from Fortune 500 companies and regulatory authorities like SEBI. It also has some of the largest hospitality brands like Sofitel and Trident.
Bangalore Shares Position With Perth (Australia)
The Central Business District (CBD) of Bangalore comprising of Mahatma Gandhi Road, Brigade Road and others also figures among the most expensive office markets of Asia-Pac region. The CBD of Bangalore has been ranked 18th in the report in the most expensive office locations. The CBD in Bangalore commands rental of USD 28.6 per square meter per month. Interestingly, CBD of Bangalore shares the 18th position with CBD of Perth in Australia. Other Australian cities that find their place in the list are Sydney, Brisbane and Melbourne.
Honk Kong Occupies Pole Post
Hong Kong continues to occupy number one position in the list of most expensive office locations in Asia-Pac region. The ‘Central’ region of Hong Kong, mostly the place in and around Kowloon, has an average rent of USD 227.3 per square meter per month. Hong Kong not only tops the list in Asia-Pac region but is consistently ranked the most expensive in the world every year.
Singapore too is among the most expensive places in Asia Pac Region. Raffles Place and Marina Bay in Singapore have red hot rentals with an average of USD 89.4 per square meter per month.
After Hong Kong, it is Central 5 Wards of Tokyo which is the most expensive location in Asia-Pac region. The average rent in these wards is almost USD 100 per square meter per month.