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Bengaluru sees highest growth in office rentals in Q3 2019

Connaught Place in Delhi sees 4.4% year-on-year rental growth; Bandra Kurla Complex in Mumbai records 2 percent rise.

November 26, 2019 / 11:51 IST
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A resurgence in IT/ITeS sector hiring since the first half of 2019 and increased activity by manufacturing companies kept demand buoyant in Bengaluru as the city clocked the highest rental growth in the Asia Pacific region at 17.6 percent during the July-September quarter of 2019, according to a new report.

Connaught Place in Delhi saw a 4.4 percent year-on-year rental growth and Bandra Kurla Complex in Mumbai recorded a 2 percent rise, Knight Frank in its recent report Asia-Pacific Prime Office Rental Index Q3 2019 said.

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Connaught Place in the National Capital Region (NCR) and Bandra Kurla Complex (BKC) in Mumbai are ranked 7th and 11th in the 20 fastest growing prime office markets in the Asia-Pacific region, respectively, the report said.

CBD Bengaluru was followed by the CBDs of Melbourne and Bangkok at the second and third spots, with a year-on-year office rental growth of 15.5 percent and 9.4 percent, respectively.