BlackRock leases 1.65 lakh sq ft office in Mumbai for GCC
Real Estate

BlackRock leases 1.65 lakh sq ft office in Mumbai for GCC

BlackRock, the world's largest asset manager, has signed a 10-year lease for over 165,000 square feet of office space in Goregaon, Mumbai. The lease covers three floors in the Commerz III building, which is owned by Oberoi Realty. The monthly rent for this space exceeds Rs 20.6 million, making the total value of the lease nearly Rs 4 billion. The agreement includes a 15 per cent rental escalation every three years and a five-year lock-in period. This lease, effective from January, is a significant move in BlackRock’s expansion strategy in India, reflecting the company’s long-term commitment to the market.

In addition to the office space, BlackRock has secured exclusive access to more than 90 car parking spaces. Prior to this deal, the company had leased 42,700 square feet in the Worli locality of Mumbai in August.

Having operated in India since 2008, BlackRock provides a wide range of investment solutions in cities such as Mumbai, Gurugram, and Bengaluru. The new lease in Goregaon represents an important step in the company’s growth in India, further establishing its presence in the country’s financial landscape.

News source: Projects Today

BlackRock, the world's largest asset manager, has signed a 10-year lease for over 165,000 square feet of office space in Goregaon, Mumbai. The lease covers three floors in the Commerz III building, which is owned by Oberoi Realty. The monthly rent for this space exceeds Rs 20.6 million, making the total value of the lease nearly Rs 4 billion. The agreement includes a 15 per cent rental escalation every three years and a five-year lock-in period. This lease, effective from January, is a significant move in BlackRock’s expansion strategy in India, reflecting the company’s long-term commitment to the market. In addition to the office space, BlackRock has secured exclusive access to more than 90 car parking spaces. Prior to this deal, the company had leased 42,700 square feet in the Worli locality of Mumbai in August. Having operated in India since 2008, BlackRock provides a wide range of investment solutions in cities such as Mumbai, Gurugram, and Bengaluru. The new lease in Goregaon represents an important step in the company’s growth in India, further establishing its presence in the country’s financial landscape. News source: Projects Today

Next Story
Infrastructure Urban

Choice Consultancy Wins Rs 634.7 Million Public Sector Projects

Choice Consultancy Services Pvt Ltd, the public sector advisory arm of Choice International Ltd, has secured two major project developments totalling approximately Rs 634.7 million (inclusive of GST), further solidifying its role in public sector transformation and infrastructure planning across India.The company has received a work order worth Rs 528 million from the Maharashtra Institution for Transformation (MITRA), under the Government of Maharashtra. This assignment, part of the World Bank-backed MahaSTRIDE Programme, involves setting up District Strategic Units (DSUs) across the Chhatrap..

Next Story
Infrastructure Urban

Shalibhadra Finance FY25 Profit Jumps 34% Year-on-Year

Shalibhadra Finance Limited, a leading two-wheeler financing company with a deep presence in Gujarat, Maharashtra, and Madhya Pradesh, has reported a 34 per cent year-on-year rise in net profit for FY25, reaching Rs 160 million. The company’s performance was supported by disciplined lending, cost efficiency, and robust asset quality.Financial Highlights – FY25:Net Profit: Rose 34 per cent year-on-year to Rs 160 million. Q4 FY25 profit also increased by 34 per cent to Rs 44 million.Net Interest Income (NII): Up 13 per cent YoY to Rs 295.8 million for the full year and 16 per cent to Rs 84.3..

Next Story
Infrastructure Transport

Court Orders Uttarakhand PWD to Pay Rs 172 Million to MBL

The Commercial Court in Dehradun, Uttarakhand, has directed the Public Works Department (PWD), Government of Uttarakhand, to pay Rs 172.4 million to MBL Infrastructure Ltd. in accordance with an arbitration award dated 23 March 2024. The case pertains to a completed road project under Package No. 5 for the improvement and strengthening of state roads in Nainital and Udham Singh Nagar districts.The arbitration tribunal had issued a unanimous award in favour of MBL Infrastructure Ltd., granting a payment of Rs 172.4 million, which includes interest accrued up to the date of the award. Additional..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?