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Construction : Web Exclusive | September 2014 | Source : Construction Update

Mumbai slips to tenth slot in terms of office rentals: Knight Frank

According to Knight Frank Global Cities-2015 report released recently, Mumbai has slipped to the 10th slot in terms of office rentals from the 6th slot in 2007, when the average was Rs 310 per sq ft per month. The vacant office space in the Mumbai Metropolitan Region (MMR) comprising Mumbai, Thane and Navi Mumbai is around 23% compared to 6% in Londay and 5% in Hong Kong.The report has stated that Mumbai office market currently has the highest vacancy levels among the top 15 global cities of the world. The report estimates the Mumbais rental growth at 15% over the next five years.
 
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