Bank of America Rents Big Office Space in Mumbai


    Share post:

    Bank of America has rented a large office space of nearly 1 lakh sq ft in an IT park called Mindspace in Mumbai’s Malad west area. With this addition, their total office space in this tower becomes 2.70 lakh sq ft, making it one of their largest centers in India and the biggest one in Mumbai.

    This new facility will accommodate more than 3,000 employees working in various departments like operations and technology. Bank of America has leased this space for a long term of 9 years and will pay around Rs 120 crore in rent throughout this period.

    The decision to choose this location was influenced by the availability of skilled talent nearby. The western suburbs of Mumbai have a high concentration of such talent, partly due to the convenient Metro lines.

    Bank of America’s Indian operations are managed through its subsidiary BA Continuum India, which was established in 2004. They have offices in five cities including Mumbai, Hyderabad, Chennai, Gurgaon, and Gujarat’s Gift City. BA Continuum India handles various services like technology, legal, compliance, and tax support for the bank’s global operations.

    Despite global economic challenges, the demand for office space in India has been steadily growing, showing the strength of the market. Recently, ICICI Prudential Life Insurance Company also leased a large office space in the same IT park.

    Overall, India’s top seven office markets absorbed over 40 million sq ft of office space in 2023, indicating strong demand and recovery from the pandemic’s impact.

    Also: MahaRERA Cancels Home Sales Due to Missed Payments

    Related Posts

    Latest posts

    Delhi RERA chief warns real estate developers (About investors Trap)

    Real estate developers need to watch out for investors who might disrupt their finances and cause their projects...


    AIPL (Advance India Projects Limited) presents SUPERSIKH VAISAKHI 5K RUN in partnership with the World Punjabi Organisation (WPO)...

    Ashiana Housing sold 224 flats saleable value of 440 crore in just 15 minutes at its prestigious projects Amarah

    Ashiana Housing announced that it has sold out the entire phase 3 of its prestigious project, Ashiana Amarah...

    Why Bhiwadi is Becoming a Hotspot for Real Estate Investment in India

    Bhiwadi, a lesser-known industrial town near Delhi, is quickly becoming a popular spot for real estate development, similar...