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Abu Dhabi 'tops global rental growth league'
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London - Abu Dhabi, New
Delhi, and Sofia were the world's fastest-growing office rental markets
in the year to May, data from CB Richard Ellis showed yesterday. The
six-monthly report from the global property services firm also showed
London and Tokyo were home to the world's four most expensive office
locations, comfortably headed by London's West End where occupiers paid
an average US$241 per square foot (US$2,596 per square metre) for prime
office accommodation in the British capital.
New Delhi made its debut in the top 10, replacing Mumbai in seventh
place, which rose to fifth on the back of a continued boom in
data-centre and IT operations.
The world's fastest-growing office rents were in Abu Dhabi, where rents more than doubled in the period.
Sofia in Bulgaria was the third fastest-growing market, with a 63
per cent jump in rents, as economic expansion in the European Union
newcomer lures multinational companies and nurtures domestic business
growth.
But London's West End and City districts remained top of the
European rental league. Office rents in London's West End were around
double those paid in Moscow, Paris and Dublin - Europe's most expensive
office markets outside London, the data from CB Richard Ellis showed.
(Reuters)
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