Millennium Post

Connaught Place 6th most expensive office location in entire Asia Pacific

New Delhi: Connaught Place has emerged as the sixth most-expensive office location in Asia Pacific region, slipping three positions since last year, according to property consultant JLL India.

The financial hub, Mumbai, is ranked 14th on JLL's list of 20 major markets in the Asia Pacific region.

In 2017, Delhi and Mumbai were ranked third and 11th, respectively, JLL India said in a statement.

The average occupancy costs including rent, taxes and service charges in Connaught Place are at $142 per sq ft, which is higher than Pudong in Shanghai, Shinjuku in Tokyo and even Singapore.

Mumbai is ranked 14th with occupancy costs at $96 per sq ft. The rankings are based on the fourth edition of JLL's Premium Office Rent Tracker (PORT) for 2018, that calculates data on the achievable rent in the highest quality building in the premier office districts of 61 cities.

According to the list, Hong Kong (central) was most expensive with occupancy cost of $338 per sq ft, followed by Beijing (finance st) , Shenzhen and Beijing's central business district in China. Tokyo's Marunouchi in Japan was at 5th position.

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