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Mumbai office space grew up in 2013
Jan 02, 2014
MUMBAI: Despite the uncertain economic conditions, absorption of office spaces in Mumbai rose by 4.4% y/y to 7 million square feet in 2013, as against the 6.7 million square feet in 2012. As a result, vacancy fell to 22.9% in 2013 from 24% in 2012. Nearly 7.5 million square feet of new supply was added to Mumbai’s office stock in 2013 – an increase of 8.8% y/y compared to the 18% growth in stock in 2012. The total current office stock in Mumbai stands at 91 million square feet.
How Mumbai office market will perform in 2014
Jan 02, 2014
MUMBAI: In 2014, the shortage of high-quality office spaces in Mumbai will intensify. However, overall office stock in the city is expected to rise by 7.4% y/y in 2014. The sub-markets which will see highest rise in stock of office space include the West Suburbs, SBD North and East Suburbs (in that order). The CBD, SBD-Central and Thane-Navi Mumbai will witness the least or very moderate growth in stock.

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