Bank of America secures over 1 lakh sq ft office space in Mumbai's Mindspace, Malad. The facility, spanning 2.70 lakh sq ft, will accommodate 3,000 employees across operations and technology. Leased for 9 years, the deal amounts to INR 120 crore. Proximity to talent and access to metro lines drove the choice of location. The space, leased through BA Continuum India, expands the bank's Global Business Services Unit, operational since 2004 across five Indian cities. The move reflects sustained growth in India's office sector, evidenced by ICICI Prudential's recent lease of 252,000 sq ft in the same IT park.
0:00
0:00
Bank of America has recently finalised a substantial lease agreement, securing over 1 lakh sq ft of prime office space within Mumbai's Mindspace, located in Malad. This move not only expands the bank's presence in the region but also solidifies its position as one of the key players in Mumbai's commercial real estate landscape. With this new addition, Bank of America's total office space in the tower now stands at a significant 2.70 lakh sq ft, making it one of its largest centres in India and the largest within Mumbai itself. The lease agreement spans a considerable period of nine years, with the total rental value surpassing the noteworthy milestone of INR 120 crore.
This new facility will host more than 3,000 employees working in different roles. Mindspace, Malad is a good choice for this expansion because it's close to a large number of skilled professionals in Mumbai's western suburbs. The area is perfect for businesses seeking talented employees. Plus, the Metro lines here make it easy to reach, making Mumbai's western suburbs a growing hub for global business centres.
Bank of America's decision to lease this space was facilitated through its subsidiary, BA Continuum India, which operates the bank's Global Business Services Unit. Since its establishment in 2004, BA Continuum India has been instrumental in providing a wide range of services, including technology, application development, legal, compliance, and tax support services. Operating across five key cities in India, including Mumbai, Hyderabad, Chennai, Gurgaon, and Gujarat�s Gift City, BA Continuum India plays a pivotal role in supporting Bank of America's global operations and initiatives.
The lease agreement with Mindspace, Malad underscores Bank of America's commitment to investing in its operational infrastructure and capabilities in India. Furthermore, it reflects the bank's confidence in the country's economic prospects and its ability to serve as a strategic growth market for the organisation.
The significance of this move is further highlighted by the recent leasing activity within the Mindspace IT park, with ICICI Prudential Life Insurance Company securing a sizable 252,000 sq ft of office space for its largest back-office facility. This transaction represents one of the largest office lease deals concluded in the country this year, reaffirming the park's status as a preferred destination for leading businesses and corporations.
In conclusion, Bank of America's lease agreement for additional office space in Mumbai's Mindspace, Malad signifies a strategic expansion initiative aimed at strengthening its operational capabilities and presence in India. With the western suburbs of Mumbai emerging as a key destination for businesses, this move underscores the bank's commitment to leveraging India's talent pool and favourable business environment to drive sustained growth and success in the region.
This disclaimer ("Disclaimer") is applicable to the entire Site. Upon entering the Site it is recommended that you immediately read the Terms and Conditions and Privacy Policy listed therein. Your continued usage of this Site will indicate your unconditional acceptance of the said Terms and Conditions and Privacy Policy. You hereby agree that Prop News Time reserves the right to modify at any time, the Terms and Conditions and Privacy Policy governing this Site without prior notification. Your usage of the Site implies that you will be bound by any such modification. You agree and acknowledge that it is your responsibility to periodically visit the Site and stay updated with the Terms and Conditions and Privacy Policy of the Website.
The information contained in this Site has been provided by Prop News Time for information purposes only. This information does not constitute legal, professional or commercial advice. Communication, content and material within the Site may include photographs and conceptual representations of projects under development. All computer-generated images shown on the Site are only indicative of actual designs and are sourced from third party sites.
The information on this Site may contain certain technical inaccuracies and typographical errors. Any errors or omissions brought to the attention of Prop News Time will be corrected as soon as possible. The content of this Site is being constantly modified to meet the terms, stipulations and recommendations of the Real Estate Regulation Act, 2016 (“RERA”) and rules made thereunder and may vary from the content available as of date. All content may be updated from time to time and may at times be out of date. Prop News Time accepts no responsibility for keeping the information on this website up to date or any liability whatsoever for any failure to do so.
While every care has been taken to ensure that the content is useful, reliable and accurate, all content and information on the Site is provided on an "as is" and "as available" basis. Prop News Time does not accept any responsibility or liability with regard to the content, accuracy, legality and reliability of the information provided herein, or, for any loss or damage caused arising directly or indirectly in connection with reliance on the use of such information. No information given under this Site creates a warranty or expands the scope of any warranty that cannot be disclaimed under applicable law.
This Site provides links to other websites owned by third parties. Any reference or mention of third-party websites, projects or services is for purely informational purposes only. This information does not constitute either an endorsement or a recommendation. Prop News Time accepts no responsibility for the content, reliability and information provided on these third-party websites. Prop News Time will not be held liable for any personal information or data collected by these third parties or for any virus or destructive properties that may be present on these third-party sites.
Your use of the Site is solely at your own risk. You agree and acknowledge that you are solely responsible for any action you take based upon this content and that Prop News Time is not liable for the same. All details in the form of news stories, photos and videos provided on this Site are updated on the basis of information available from the respective developers/owners/promoters. All such information will not be construed as an advertisement. This Site is for guidance only. Your use of this Site – including any suggestions set out in the Site and or any use of the resources available on this Site, do not create any professional–client relationship between you and Prop News Time. Prop News Time cannot accept you as a client until certain formalities and requirements are met.
Cookie Disclaimer
We use cookies to give you the best possible service while using our website, please accept it and continue browsing if you're happy with this. For more information see our Privacy Policy
Facebook
Whatsapp
