+
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.

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

Hindmetal Pioneers EM Tech in Mineral Exploration

Hindmetal Exploration Services (HESPL), a wholly owned subsidiary of Hindustan Zinc, has become the first company in India to deploy advanced Electromagnetic (EM) technologies for mineral exploration. The initiative marks a major leap in the nation’s ability to identify hidden mineral resources with unprecedented precision.The breakthrough involves two cutting-edge tools: borehole EM, which detects and maps conductive ore bodies such as sulfide deposits in high detail, and SQUID surface sensors, which capture even the weakest electromagnetic signals—ideal for spotting low-conductivity or d..

Next Story
Infrastructure Urban

Autodesk Launches Local Data Storage for India

Autodesk has announced the launch of localized data storage in India, enabling businesses and public sector organizations to store and manage project data within the country. This expansion, part of Autodesk’s global regional offerings, supports regulated sectors such as government, infrastructure, and utilities by meeting compliance requirements while ensuring enterprise-grade security, privacy, and data recoverability.The move comes as Autodesk’s 2025 State of Design & Make report reveals that while digital transformation drives significant ROI in the architecture, engineering, const..

Next Story
Infrastructure Urban

Rosatom Opens Pilot Uranium Facility at Tanzania’s Mkuju River Project

Mantra Tanzania, a subsidiary of Uranium One Group (part of Rosatom), has commissioned a pilot uranium processing facility at the Mkuju River project in southern Tanzania. The inauguration, attended by Her Excellency Samia Suluhu Hassan, President of the United Republic of Tanzania, alongside senior government officials, community leaders, and Rosatom representatives, marks a major step forward in Russia–Tanzania nuclear energy cooperation.Alexey Likhachev, Director General of Rosatom, said: “Rosatom offers its cutting-edge uranium processing technologies to unlock Tanzania’s geological ..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?