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Rents to remain stable in 2017

DNDEL8091 | 8/12/2017 | Author : Surabhi Arora | WC :418 | Business & Economy

Trend Tracker: Demand for Grade A office space in NCR should remain firm driven mainly by banking and finance and public sector undertakings
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We expect demand to revive in coming quarters as international financial institutions and companies which need to remain in close proximity to embassies should remain active in the CBD. We expect rents for Grade A buildings to inch up in coming quarters in the CBD and Aero City while average rents are likely to remain stable.
Demand
Demand for Grade A office space should remain firm driven mainly by banking and finance and public sector undertakings.
Supply
In 2017, only 0.3 million sq ft is likely to be added to Grade A inventory. Nonetheless, the city is gearing up for redevelopment of seven colonies with about 3 million sq ft (0.28 million sq m) of planned commercial supply by 2020.
Vacancy rate
Vacancy
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