+
Morgan Stanley renews Bengaluru office lease
Real Estate

Morgan Stanley renews Bengaluru office lease

Morgan Stanley Advantage Services has decided to extend its lease for commercial office space in Bengaluru. They have renewed their lease for approximately 136,000 square feet of space. The property, located in Ecoworld on Outer Ring Road, was originally leased from RMZ Corp for duration of 120 months, with a provision for a 15% increase in rent every three years.

According to the lease renewal document shared by Propstack, the company will be paying a rent of Rs 116 per sq ft during the entire lease tenure. Additionally, it has come to light that Morgan Stanley is in the process of relocating its current India headquarters, which has been operational for 13 years, to a larger office space in Mumbai.

This move reflects the bank and financial services company's growing presence and workforce in the country. Despite facing global macroeconomic challenges, office leasing activity in India saw a 12% increase quarter-on-quarter, totalling 13.9 million sq ft in the April-June period. Bengaluru, Chennai, and Pune accounted for 59% of the overall transaction activity during the quarter.

However, during the first half of 2023, absorption decreased by 12% year-on-year, amounting to approximately 26.4 million square feet, according to CBRE.

Also read: 
UPRERA refunds 1.39M to Greater Noida project allottee  
Luxurious Nizamuddin bungalow fetches whopping Rs 620 million 

Morgan Stanley Advantage Services has decided to extend its lease for commercial office space in Bengaluru. They have renewed their lease for approximately 136,000 square feet of space. The property, located in Ecoworld on Outer Ring Road, was originally leased from RMZ Corp for duration of 120 months, with a provision for a 15% increase in rent every three years. According to the lease renewal document shared by Propstack, the company will be paying a rent of Rs 116 per sq ft during the entire lease tenure. Additionally, it has come to light that Morgan Stanley is in the process of relocating its current India headquarters, which has been operational for 13 years, to a larger office space in Mumbai. This move reflects the bank and financial services company's growing presence and workforce in the country. Despite facing global macroeconomic challenges, office leasing activity in India saw a 12% increase quarter-on-quarter, totalling 13.9 million sq ft in the April-June period. Bengaluru, Chennai, and Pune accounted for 59% of the overall transaction activity during the quarter. However, during the first half of 2023, absorption decreased by 12% year-on-year, amounting to approximately 26.4 million square feet, according to CBRE. Also read:  UPRERA refunds 1.39M to Greater Noida project allottee  Luxurious Nizamuddin bungalow fetches whopping Rs 620 million 

Related Stories

Gold Stories

Next Story
Real Estate

Peninsula Land launches 19 luxury villas in Pune

Pune’s residential landscape is witnessing a shift as premium homebuyers increasingly seek larger spaces, privacy and independent living options beyond high-rise apartments. Addressing this demand, Peninsula Land Limited, part of the Ashok Piramal Group, has launched AshokVillas, an exclusive collection of 19 premium furnished villas in Gahunje, Pune.The development combines the independence of a standalone home with the convenience and security of a managed residential community. Designed around low-density horizontal living, AshokVillas offers residents private spaces while providing acces..

Next Story
Infrastructure Urban

MyBranch Expands South India Network with 16 Workspace Centres

MyBranch has expanded its South India presence with a 50,000 sq ft flexible workspace network comprising 16 centres across 14 cities in Andhra Pradesh, Karnataka, Tamil Nadu and Telangana.The expansion reflects growing demand for flexible office infrastructure as businesses establish regional teams, satellite offices and operations beyond traditional metropolitan markets. MyBranch’s network spans Bengaluru, Coimbatore, Guntur, Hanamkonda, Hubballi, Hyderabad, Madurai, Mangaluru, Rajahmundry, Salem, Tirupati, Vellore, Vijayawada and Visakhapatnam, with a large office space in Chennai also und..

Next Story
Building Material

Walplast Launches Moisture-Resistant Gypsum Plaster Solutions

Walplast Products Pvt. Ltd. has expanded its HomeSure GypEx portfolio with the launch of GypEx MoistShield and GypEx Gold, two gypsum plaster solutions designed to address moisture-prone applications and improve plastering efficiency.The new products have been developed in response to the growing demand for faster construction processes, improved material performance and consistent surface quality. The solutions aim to simplify interior plastering while addressing specific application requirements across construction environments.“Through HomeSure GypEx MoistShield and GypEx Gold, we are exp..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code