Mumbai hits Melbourne for six on office rents: Cushman & Wakefield
It is more expensive to rent office space in Mumbai’s financial district than in the Melbourne or Brisbane CBD, according to the latest global office report from Cushman & Wakefield.
The report refers specifically to Mumbai’s Bandra Kurla Complex (BKC), a planned commercial complex in India’s financial capital.
It consists of a number of commercial buildings with tenants including Dow Chemicals, ICICI Bank and Citibank, as well as being home to the Mumbai Cricket Association's cricket ground and the United States Mumbai Consulate.
Annual rents in Mumbai are around US$80 per square foot per year, compared with around $70 per square foot per year in the Melbourne CBD.
Mumbai ranks as the eighth most expensive Asia Pacific location to rent office space with Brisbane ranking ninth and Melbourne 10th.
Photo by Deepak Gupta, courtesy of Flickr