by THO
Real estate consultancy firm JLL has opened a new office in Noida spread across an area of approximately 4000 sq ft, the company said in a statement.
“We have consistently maintained a market share of 30%-35% in Noida. Our dedicated office in Noida, built to match JLL’s global standards, further strengthens our regional presence and enhances opportunities for new business,” said Manish Aggarwal, Senior Managing Director – North and East India, JLL.
Noida, Greater Noida, and Yamuna expressway is rapidly gaining recognition as an attractive destination for businesses and investors.
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Noida’s growth story is propelled by a CAGR of 10% in total Grade A Office stock over the five year period of 2019-2023. With upcoming Grade A new office space supply of around 3 million square feet to be added in 2024, Noida’s real estate market presents attractive options for GCC’s and Data Centers businesses, the company said.
The city’s growth prospects are further amplified by strategic infrastructure projects. The upcoming Noida International Airport in Jewar, expected to be operational by September 2024, will contribute to the development of the Ghaziabad-Noida-Dadri and Yamuna Expressway industrial cluster.
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Additionally, Noida-Greater Noida is set to become a data center hub, attracting investments of up to ₹8,000 crore. The government has provided various incentives to attract investments, fostering an environment conducive to business growth, JLL said in a statement.
Real estate brokers active in the area said that the average commercial rents in Noida are around ₹55 to 75 per sq ft.
