Mumbai’s Office Real Estate Sector Poised for Double-Digit CAGR through 2030: CII-CBRE
Office demand is projected to grow at a compound annual growth rate (CAGR) of 12–15% between 2027 and 2030. During the same period, residential sales and industrial & logistics demand are expected to expand at CAGRs of 6–8% and 5–8%, respectively.
The report was launched by Deepak Parekh, Chairman, HDFC Asset Management Company & HDFC Capital Advisors; Mr Vir S Advani, Chairman, CII Western Region and Chairman & Managing Director Blue Star Ltd; Mr Anshuman Magazine, Chairman & CEO, India, Southeast, Asia, Middle East & Africa, CBRE; Mr Neel Raheja, Group President, K Raheja Corp Group; Mr Atul Ruia, Chairman, Phoenix Mills Ltd., and Dr Alpa Antani, Regional Director, Confederation of Indian Industry, Western Region.
"By 2030, Mumbai has the opportunity to emerge as one of the world’s major economic engines,” said Mr Anshuman Magazine, Chairman & CEO - India, South-East Asia, Middle East & Africa, CBRE. “The transformation will be driven by mobility - metro, rail, roads and airport connectivity - alongside redevelopment, new business districts, housing and transit-oriented growth. With its strengths in finance, technology, services, manufacturing and data centres, Mumbai has all the ingredients to become a truly global gateway city. The next five years can be transformative, and our ambition should be for Mumbai to stand alongside cities such as Tokyo and Singapore as a leading global economic hub.”
Vir S. Advani, Chairman, CII Western Region and Chairman & Managing Director, Blue Star Ltd. said, “Mumbai’s growth cannot be an either-or choice between redevelopment and greenfield development. It is about directing every rupee to where it creates the greatest economic and social value. With integrated planning, stronger connectivity, policy certainty and a shared commitment to sustainability and resilience, we can move beyond decoding Mumbai 2030 to building a more competitive, liveable and future-ready city.”
Deepak Parekh, Chairman, HDFC Asset Management Company & HDFC Capital Advisors, said, "India's housing challenge demands that we build faster, smarter and for greater affordability. Mumbai’s strong demand, coupled with redevelopment and new development opportunities, can transform the city over the next five years. By embracing faster construction technologies and focusing more on smaller, accessible homes, developers can help address the housing need while shaping a more inclusive Mumbai."
"Reimagining and reinventing Mumbai will require vision, ambition and the courage to embrace new possibilities. As the city looks towards 2030, stronger infrastructure, metro connectivity and new development opportunities are opening the door to a new era of growth. With bold thinking and the confidence to transform our best assets, Mumbai can create iconic financial and commercial districts and emerge as a bigger, bolder and truly global city," added Mr Atul Ruia, Chairman, The Phoenix Mills Ltd.
Published on:
09 September 2026
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