Mumbai: Mumbai’s office real estate demand is projected to grow at a compound annual growth rate of 12-15 percent between 2027 and 2030, according to a report released at the CII Real Estate Summit 2026.
The India Mid-Year Market Outlook FY2027, prepared by CBRE, expects growth to be supported by banking and financial services, technology companies and flexible workspace operators.
Office market set for expansion
Mumbai recorded estimated average annual office leasing of nearly 11.8 million sq. ft. between 2022 and 2026. Leasing activity is expected to rise significantly from this base during 2027-2030.
The city’s total office stock is projected to expand 1.3 times by 2030. Mumbai accounted for around 16 percent of India’s office inventory during the first half of 2026.
New investment-grade developments, a wider occupier base and greater integration of offices with retail spaces are expected to support demand.
Residential sales to increase
Residential sales in Mumbai are projected to grow at a CAGR of 6-8 percent through 2030, while the city’s housing stock could expand 1.5 times.
Infrastructure improvements, demand for premium homes and the emergence of new residential corridors across the Mumbai Metropolitan Region are likely to drive growth.
Redevelopment, slum rehabilitation and housing projects along new transport routes are expected to add supply.
Retail growth seen at 14-17 percent
Retail could emerge as the fastest-growing major real estate segment, with demand projected to increase at a CAGR of 14-17 percent through 2030. Retail stock may expand 1.6 times.
Growth is expected to be supported by consumer spending, experience-led retail formats and expansion by Indian and international brands.
Data centres gain momentum
Mumbai’s industrial and logistics demand may grow at a CAGR of 5-8 percent, helped by e-commerce, third-party logistics companies and institutional industrial parks.
The city already holds nearly 25 percent of India’s industrial and logistics inventory.
Mumbai’s data centre capacity is projected to grow 2.1 times by 2030. Its share across India’s leading data centre markets could rise from around 52 percent in the first half of 2026 to nearly 68 percent.
