Julius Baer Leases 74,037 Sq Ft Office in Mumbai
Real Estate

Julius Baer Leases 74,037 Sq Ft Office in Mumbai

Julius Baer Global Enterprise Services (India) has leased 74,037 sq ft on the seventh floor of Waterstones Business Park in Andheri East, Mumbai from Striton Properties. The lease began on May 1, 2026, for a tenure of 60 months and will house the bank's India global capability centre and back office operations. Deal documents accessed via Propstack showed the arrangement.

The monthly rent is Rs 1.55 crore, equivalent to Rs 15.5 mn, at Rs 215 per sq ft, with rents subject to an annual escalation of five per cent. Total rental outgo over the lease term is Rs 102.6 crore, or Rs 1,026 mn, and the company paid a security deposit of Rs 12.38 crore, or Rs 123.8 mn.

The occupier will use the space for commercial processing and transaction support as it expands GCC operations in India. The move follows a trend of large financial services occupiers seeking contiguous floors in Mumbai.

Global capability centres have consolidated their position as the primary growth engine for India’s grade-A office market, accounting for 37 per cent of demand since 2021 with 118 mn sq ft leased, according to Colliers India. In the first half of 2026 GCCs leased 16.6 mn sq ft, representing a 46 per cent share of grade-A uptake in the top seven cities, and the BFSI sector accounted for 23 per cent of GCC leasing in H1 2026. BFSI leasing rose nearly threefold between 2021 and 2025.

Mumbai recorded 1.2 mn sq ft of GCC leasing in H1 2026, a seven per cent share of overall GCC leasing across the top seven cities. Annual GCC leasing is projected at 35-40 mn sq ft for the next two years and GCCs are expected to account for 45-50 per cent of India’s office space demand in 2026 and 2027, Colliers noted.

Julius Baer Global Enterprise Services (India) has leased 74,037 sq ft on the seventh floor of Waterstones Business Park in Andheri East, Mumbai from Striton Properties. The lease began on May 1, 2026, for a tenure of 60 months and will house the bank's India global capability centre and back office operations. Deal documents accessed via Propstack showed the arrangement. The monthly rent is Rs 1.55 crore, equivalent to Rs 15.5 mn, at Rs 215 per sq ft, with rents subject to an annual escalation of five per cent. Total rental outgo over the lease term is Rs 102.6 crore, or Rs 1,026 mn, and the company paid a security deposit of Rs 12.38 crore, or Rs 123.8 mn. The occupier will use the space for commercial processing and transaction support as it expands GCC operations in India. The move follows a trend of large financial services occupiers seeking contiguous floors in Mumbai. Global capability centres have consolidated their position as the primary growth engine for India’s grade-A office market, accounting for 37 per cent of demand since 2021 with 118 mn sq ft leased, according to Colliers India. In the first half of 2026 GCCs leased 16.6 mn sq ft, representing a 46 per cent share of grade-A uptake in the top seven cities, and the BFSI sector accounted for 23 per cent of GCC leasing in H1 2026. BFSI leasing rose nearly threefold between 2021 and 2025. Mumbai recorded 1.2 mn sq ft of GCC leasing in H1 2026, a seven per cent share of overall GCC leasing across the top seven cities. Annual GCC leasing is projected at 35-40 mn sq ft for the next two years and GCCs are expected to account for 45-50 per cent of India’s office space demand in 2026 and 2027, Colliers noted.

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