New Delhi, March 26 (IANS) India continues to reinforce its position as the most cost-competitive office fit-out market in Asia Pacific, offering global occupiers a compelling combination of cost efficiency, scale and quality, a new report showed on Thursday.

Across India’s major office markets, fi-out costs ranged between $65–73 per square feet, significantly lower than key regional markets such as Tokyo ($215), Sydney ($161) and Singapore ($140), said Cushman & Wakefield’s ‘Asia Pacific Office Fit Out Cost Guide 2026’.

This reinforces India’s position as the most economical destination for delivering high-quality, collaborative workplace environments at scale.

“India continues to stand out as one of the most cost-competitive fit out markets in Asia Pacific, not just on absolute cost benchmarks but also in terms of consistency across cities and depth of delivery capability. As occupiers increasingly look to deliver higher-quality, experience-led workplaces, this cost advantage becomes even more relevant,” explained Shashi Bushan, Executive Managing Director-Project and Development Services (PDS) India, and Lead Occupier-PDS APAC, Cushman & Wakefield.

In the current environment, where global supply chains are adjusting and input costs remain sensitive to energy prices, India’s relative positioning is strengthening further.

The country’s cost advantage comes at a time of strengthening occupier activity across the region. Prime office net absorption across Asia Pacific’s 27 markets reached 92 million sq ft in 2025, up from 76 million sq ft in 2024, reflecting continued recovery in demand.

India has been central to this growth, with its top eight cities accounting for nearly two-thirds of regional office demand, underlining the depth and resilience of its occupier base.

On the supply side, the divergence across the region is becoming more pronounced. Total office supply under construction across the Asia Pacific stood at approximately 386 million sq ft at the start of 2026, of which around 192 million sq ft is concentrated in India’s top eight cities.

Overall, we are seeing a clear shift—organisations are not stepping back from workplace investments but becoming more deliberate in how and where they deploy capital. In that context, India continues to offer a compelling balance of cost, quality and scalability, said Bushan.

Mumbai remains the highest-cost market at approximately USD 73 per sq ft, reflecting strong demand from multinational corporations, financial institutions and Global Capability Centres (GCCs) seeking premium office environments.

—IANS

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