State Street Leases Mumbai Office Tower in $42M Deal

27 Nov 2024 CW Team

The leased space, covering 250,000 sq ft across a six-story tower in the 10-acre Equinox Business Park, will house State Street's Global Capability Center (GCC). This facility is part of a growing trend among global corporations leveraging India’s cost-efficient, skilled workforce and digital infrastructure to support global operations.

Strategic Terms and Market Insights The lease includes a 36-month lock-in period and an annual rental escalation of 4.5%. The move highlights BKC’s rising prominence as a business hub, with nearly full occupancy in the Equinox Business Park. Key tenants include Tata Communications, Mirae Asset Capital Markets, NSE, and Titan.

Brookfield Properties, which manages over 55 million sq ft of assets across 10 Indian cities, noted that GCCs now account for 15 million sq ft of its portfolio. The Equinox campus boasts 1.3 million sq ft of leasable space and is now 99% occupied.

State Street’s Global Reach With $46.8 trillion in assets under custody and administration, and $4.7 trillion under management, State Street operates in over 100 markets. Its investment in Mumbai reinforces the BFSI sector's demand for office spaces in India, driven by digital transformation and a skilled talent pool.

Brookfield’s Expanding Footprint Brookfield Properties’ India portfolio, part of its $29 billion AUM in the country, includes marquee developments like Candor TechSpace and Worldmark. The growing demand for premium office spaces signals India's critical role in global business strategies.

This lease deal underscores India’s evolution as a top destination for multinational corporations and BKC’s status as a preferred business hub.

State Street Corporation, a Boston-based global financial services and investment management firm, has signed a long-term lease for an entire office tower near Mumbai's Bandra-Kurla Complex (BKC). The agreement with Brookfield Properties spans approximately 10 years, with a total rental commitment exceeding ?350 crore ($42 million). The leased space, covering 250,000 sq ft across a six-story tower in the 10-acre Equinox Business Park, will house State Street's Global Capability Center (GCC). This facility is part of a growing trend among global corporations leveraging India’s cost-efficient, skilled workforce and digital infrastructure to support global operations. Strategic Terms and Market Insights The lease includes a 36-month lock-in period and an annual rental escalation of 4.5%. The move highlights BKC’s rising prominence as a business hub, with nearly full occupancy in the Equinox Business Park. Key tenants include Tata Communications, Mirae Asset Capital Markets, NSE, and Titan. Brookfield Properties, which manages over 55 million sq ft of assets across 10 Indian cities, noted that GCCs now account for 15 million sq ft of its portfolio. The Equinox campus boasts 1.3 million sq ft of leasable space and is now 99% occupied. State Street’s Global Reach With $46.8 trillion in assets under custody and administration, and $4.7 trillion under management, State Street operates in over 100 markets. Its investment in Mumbai reinforces the BFSI sector's demand for office spaces in India, driven by digital transformation and a skilled talent pool. Brookfield’s Expanding Footprint Brookfield Properties’ India portfolio, part of its $29 billion AUM in the country, includes marquee developments like Candor TechSpace and Worldmark. The growing demand for premium office spaces signals India's critical role in global business strategies. This lease deal underscores India’s evolution as a top destination for multinational corporations and BKC’s status as a preferred business hub.

Infrastructure Urban

29 Oct 2025

Designing Tomorrow: Amaravati’s Net Zero Landmark

Amaravati has achieved a defining landmark in India’s sustainable infrastructure journey with the inauguration of the APCRDA Project Office, the nation’s first government building to earn the IGBC Net Zero Energy Rating – Design Stage. Conceptualised by the Andhra Pradesh Capital Region Development Authority (APCRDA) and certified by the Indian Green Building Council (IGBC), the project exemplifies how governance, design and innovation can converge to deliver measurable environmental impact.A vision rooted in sustainabilitySet within a 4.3-acre site along the Seed Access Road in the Amar..

Real Estate

29 Oct 2025

Pidilite Elevates Construction with PPS

Pidilite Industries introduced Pidilite Professional Solutions (PPS) — a dedicated vertical for the construction and interiors ecosystem — at ACETECH Bengaluru 2025. Designed to empower architects, developers, contractors, and interior specialists, PPS delivers comprehensive support that extends far beyond products to ensure project excellence from concept to completion. Kavinder Singh, Joint Managing Director, Pidilite Industries, noted, “At Pidilite, we believe in enabling the construction fraternity to build boldly and sustainably. With Pidilite Professional Solutions (PPS),..

Infrastructure Transport

29 Oct 2025

Punjab, Centre Fast-Track Rajpura-Mohali Rail Line Development

The central government has fast-tracked the construction of the Rajpura-Mohali rail line to enhance connectivity in Punjab. This ambitious infrastructure project, aimed at improving transportation links between Rajpura and Mohali, has been identified as a key step in fostering regional economic growth. Union Minister for Railways, Ashwini Vaishnaw, announced the project’s acceleration during a recent assessment of the area. The rail line is expected to play a significant role in reducing travel time, promoting industrial growth, and boosting logistics efficiency in the region. The project,..