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IN TWO YEARS, OFFICE SPACE THE SIZE OF TWO NARIMAN POINTS TO COME UP

Office space the size of two Nariman Points is likely to come up in the nest two years, if we were to believe the recent report by the Lehman Brothers firm. Lack of space for office premises might not be a distant dream in Mumbai as a report by the Lehman brothers, a global investment firm, states that office space twice the existing space available in 30 odd towers at Nariman point is set to come up in Mumbai in next two years i.e. 2008 and 2009. The report states that a commercial space of 14 million sq ft is expected to come up in Central Mumbai, Bandra-Kurla Complex and Andheri. Each of these commercial hub will add office space, which is equal to, or more than the existing space available there. For example commercial hub at Andheri has been described as “the new upcoming destination for corporate India with its proximity to the airport and numerous industrial estates that are being converted to office space.” Outside Mumbai, areas like Navi Mumbai and Thane are expected to add more than five million sq ft of office space especially for the IT and ITES based companies or back-offices, the report states.

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