Navi Mumbai: The Emerging Office Hub in MMR
Navi Mumbai accounts for 20% of the total office space in the Mumbai Metropolitan Region (MMR) with nearly 24 million square feet. A high occupancy rate and future growth are attributed to infrastructure advancements, cost benefits, and strategic location. New infrastructure projects aim to enhance accessibility further.
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Navi Mumbai stands as a pivotal office space hub in the Mumbai Metropolitan Region (MMR), boasting 24 million square feet and accounting for 20 per cent of MMR's total supply, according to Cushman & Wakefield.
A recent report, 'Navi Mumbai – The Next Growth Corridor', highlights high occupancy levels at 87 per cent, driven by infrastructure development, cost efficiencies, and a strategic location. Significant infrastructure projects like the impending Navi Mumbai International Airport and road expansions are expected to bolster connectivity.
Executive Managing Director Gautam Saraf underscores Navi Mumbai's readiness to absorb new real estate growth due to its integrated urban framework. By 2027-28, the area will see 4 million square feet of additional office space, aligning with key factors like talent availability and competitive Grade A space for establishing Global Capability Centers.
(With inputs from agencies.)
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