Delhi-NCR is the sixth most expensive prime office market in the Asia Pacific region, with an annual occupancy cost of USD 78.4 per square foot. Hong Kong SAR remains the most expensive market, followed by Singapore, Sydney, Tokyo, and Seoul. Mumbai ranks ninth with an annual occupancy cost of USD 70.5 per square foot. Bengaluru is ranked 19th out of 23 cities in the region. The demand for office space in India’s major occupier markets remained strong, with a focus on Global Capability Centres (GCC). Rental levels have remained stable.
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