New Delhi, November 4, 2016 – Gurgaon
continues to dominate as a corporate hub with increased investments in real
estate by institutional investors and developers, stated a recent CBRE report. With presence and availability of high quality
gated residential communities and stagnation in Delhi’s urban development
environment has resulted in over 70% of office leasing making Gurgaon, the new Central
the past 3 years, while Noida transacted between 1-1.5 million sft of gross
leasing annually, Delhi was even lower at an average of 800,000 sft. Gurgaon in
comparison was far ahead with an average gross leasing of 5.5 million sft
annually with last year clocking a high of 7 million sft commanding a 70% share
of office leasing in the NCR region. This is driving significant institutional
interest (as well as investment commitments) to capture the growth wave of
increasing lease rents and high sale prices. Further, increase in such demand
is further leading to an increase in working population thereby generating
additional demand for housing in Gurgaon.
With over one billion dollar of
investments by way of land acquisition and financing
the overall long term outlook is bullish with
commercial office markets in overdrive and emerging areas of Gurgaon offering
excellent residential development opportunities. While prime areas of Gurgaon
such as Golf Course Road and MG Road are saturated and considered expensive for
residential space, emerging areas such as Golf Course Extension, Dwarka
Expressway and New Gurgaon offer multiple development opportunities tapping
demand from first home buyers as well as investors.
“Investments by institutional
investors and developers alike show enhanced confidence in Gurgaon’s future. Future
ready trunk infrastructure such as roads, power and water; ready social
infrastructure clubbed with affordability has been the key driving factors of the region,” said Mr. Anshuman
Magazine, Chairman – India & South East Asia, CBRE.
In addition to bullish investors, prominent
international developers from China and
other neighboring countries are evaluating Gurgaon as their first
market for investment. Reputed developers have joined hands with strong
institutional investors to actively acquire strategic land positions within
emerging areas of Gurgaon, which is a clear indicator of the expected long term
Neither CBRE nor its affiliated companies make any warranties or claims on the implied accuracy of the information contained herein.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2015 revenue). The company has more than 70,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.