+
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

Related Stories

Gold Stories

Next Story
Products

Interio by Godrej launches modular workplace solutions

Interio by Godrej has launched Workscapes, a modular workplace solutions category designed to help organisations configure and adapt workspaces to changing requirements. The portfolio combines mobile and compatible furniture and support elements that can be rearranged across different work modes without changes to fixed layouts.Workscapes includes Collaboration Tables, Privacy Solutions, Mobile Markerboards and Space Dividers, Power Solutions, Storage and Support Elements, Meeting and Presentation Tools, and Seating Elements. The range is designed for focused work, collaboration, informal disc..

Next Story
Infrastructure Urban

CAFE-III Gives Auto Industry Investment Clarity

The government’s new Corporate Average Fuel Economy (CAFE-III) norms have provided the automobile industry with a clearer framework for technology investments, according to industry representatives. The framework seeks to balance environmental objectives with flexibility for manufacturers while encouraging the adoption of flex-fuel vehicles and biofuels. Society of Indian Automobile Manufacturers (SIAM) President Shenu Agarwal said the five-year framework would give automakers greater predictability to plan investments and accelerate innovation. He said the regulation established annual targ..

Next Story
Infrastructure Energy

Mines Ministry to Auction Two Offshore Mineral Blocks in Andaman Sea

The Ministry of Mines will launch an auction of two offshore mineral blocks in the Andaman Sea on Thursday, seeking to unlock India’s offshore mineral potential and strengthen long-term mineral resource security. The blocks will be offered under a composite licence, which permits exploration and development activities in accordance with the applicable regulatory framework. The ministry said the auction was intended to encourage systematic exploration, attract investment and promote the use of advanced technologies for offshore mineral exploration and development. The initiative is also aimed..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code