+
Goldman Sachs Leases 74,000 Sq Ft in Mumbai's Worli for Rs.300 Cr
Real Estate

Goldman Sachs Leases 74,000 Sq Ft in Mumbai's Worli for Rs.300 Cr

The India arm of global investment banking giant Goldman Sachs has secured nearly 74,000 sq ft of prime office space in Mumbai's upscale Worli locality, signing a 10-year lease for two floors in the commercial tower Ascentia, developed by K Raheja Corp. The financial institution will pay approximately Rs.3 billion in total rent over the initial lease period.

The agreement includes a 4.75% annual rent escalation and provides an option to extend the lease for an additional 10 years in two terms of five years each. The lease is set to commence in August 2024 with a 48-month lock-in period, while fit-out work is scheduled to last until September 2025.

This move by Goldman Sachs comes as the Worli area experiences a surge in office space demand, driven by infrastructure improvements such as the Mumbai Trans-Harbour Link (MTHL) and the expanding metro network. These projects are enhancing the area's accessibility and attracting multinationals looking for high-end office space with modern amenities.

Goldman Sachs has been operating in India since the 1980s, establishing a significant presence with its Mumbai office in 2006 and more recently opening technology hubs in Bengaluru (2004) and Hyderabad (2021). With over 8,500 professionals in these locations, they represent the firm’s second-largest global presence.

India’s office sector has shown remarkable resilience despite global economic challenges. The country recorded its best-ever first half of the year, with 33.5 million sq ft of gross office leasing, a 29% increase from the previous year, demonstrating continued confidence in India's commercial real estate market.

Your next big infra connection is waiting at RAHSTA 2025 – Asia’s Biggest Roads & Highways Expo, Jio World Convention Centre, Mumbai. Don’t miss out!

The India arm of global investment banking giant Goldman Sachs has secured nearly 74,000 sq ft of prime office space in Mumbai's upscale Worli locality, signing a 10-year lease for two floors in the commercial tower Ascentia, developed by K Raheja Corp. The financial institution will pay approximately Rs.3 billion in total rent over the initial lease period. The agreement includes a 4.75% annual rent escalation and provides an option to extend the lease for an additional 10 years in two terms of five years each. The lease is set to commence in August 2024 with a 48-month lock-in period, while fit-out work is scheduled to last until September 2025. This move by Goldman Sachs comes as the Worli area experiences a surge in office space demand, driven by infrastructure improvements such as the Mumbai Trans-Harbour Link (MTHL) and the expanding metro network. These projects are enhancing the area's accessibility and attracting multinationals looking for high-end office space with modern amenities. Goldman Sachs has been operating in India since the 1980s, establishing a significant presence with its Mumbai office in 2006 and more recently opening technology hubs in Bengaluru (2004) and Hyderabad (2021). With over 8,500 professionals in these locations, they represent the firm’s second-largest global presence. India’s office sector has shown remarkable resilience despite global economic challenges. The country recorded its best-ever first half of the year, with 33.5 million sq ft of gross office leasing, a 29% increase from the previous year, demonstrating continued confidence in India's commercial real estate market.

Next Story
Infrastructure Urban

Delivering metals in 24 hours with AI

India’s metal supply chain has long struggled with delays, fragmentation and lack of transparency, forcing purchase teams to chase vendors and juggle uncertain stock. Enlight Metals is tackling these inefficiencies with an AI-powered aggregation platform, multilingual voice-enabled procurement and strategically located dark stores that enable 24-hour delivery – transforming how OEMs, EPCs and infrastructure players source their metals. In a conversation with CW, Dhananjay Goel, Director, and Vedant Goel, Director, shares how the company is reshaping procurement. What problem..

Next Story
Infrastructure Urban

Silvin's CPVC Additive Gets NSF® Certification for Safety

Silvin Additives, a prominent manufacturer of PVC and CPVC additives, has secured the NSF® Guideline 533 certification for its CPVC Super1Pack formulation. This certification affirms the additive’s compliance with stringent international health and safety standards for products intended for drinking water applications.Awarded by NSF, a globally respected public health and safety authority based in Michigan, United States, the certification is granted only after rigorous product testing and inspection. NSF® Guideline 533 specifically assesses the safety of chemical ingredients used in produ..

Next Story
Infrastructure Urban

Mitsubishi Halts Offshore Wind Projects in Japan

Mitsubishi Corporation (MC) has announced its decision to withdraw from three major offshore wind projects off the coast of Japan due to a significant shift in global business conditions. The projects were being developed through a consortium led by its subsidiary, Mitsubishi Corporation Offshore Wind Ltd., and were located off the shores of Noshiro City, Mitane Town, and Oga City in Akita Prefecture; Yurihonjo City in Akita Prefecture; and Choshi City in Chiba Prefecture.The company stated that following a review initiated in February 2025, it concluded the projects were no longer viable. The..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?