city report mumbai office market - BNP PARIBAS - Investment ...

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SUMMARY Summary p. 3 Macroeconomic Context p. 4 Mumbai Office Market p. 5 Central Business District (CBD) p. 6 Extended Central Business District (ECBD) p. 7 Alternate Central Business District (Alternate CBD) p. 8 Secondary Business District (SBD) p. 9 Periphery Business District (PBD) p. 10 Prime Rents p. 11 Capital Values Key Transactions Key Projects p. 12 p. 13 p. 14 Glossary p. 15 CITY REPORT MUMBAI OFFICE MARKET - Q4 2009
SUMMARY More enquiries from corporate occupiers, though low conversion rate The Q4 of 2009 saw an increase in enquiries from corporate occupiers in the Mumbai region. In fact, many corporates are also evaluating buy verses lease scenarios which is good news for real estate developers and owners who are keen to sell to corporate end users. It must be specifically noted that the conversion rates of these enquiries into sales remain low. The peripheral areas are showing signs of revival with strong leasing activity especially in the Powai area. However, many large ticket transactions, especially in excess of 100,000 sq. ft, which were anticipated to conclude in this quarter has been postponed to the next quarter. Overall, the lease rents and capital values are under pressure due to the increasing new supply for the commercial <strong>office</strong> space. As a result, competition to win occupiers is becoming more and more intense among property owners & developers. On a positive note, this is leading to better development practices across the region. The “green concept” in new buildings is gaining grounds and is becoming a key “influencer” in the occupiers' decision making process. As supply will overrun demand by an increasing margin, the prices are expected to fall to 5% from the current levels, by end of March 2010. CITY REPORT MUMBAI OFFICE MARKET - Q4 2009 I3I
Page 1: CITY REPORT MUMBAI OFFICE MARKET Q4
Page 5 and 6: MUMBAI OFFICE MARKET N 23 22 21 20
Page 7 and 8: EXTENDED CENTRAL BUSINESS DISTRICT
Page 9 and 10: SECONDARY BUSINESS DISTRICT (SBD) P
Page 11 and 12: PRIME RENTS Region Q4 2009 Rent INR
Page 13 and 14: KEY TRANSACTIONS Q4 2009 Building T
Page 15 and 16: GLOSSARY Q4: Quarter 4 of the finan

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