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Swiss private banking firm Julius Baer's India arm, Julius Baer Global Enterprise Services (India), has leased 74,037 square feet of chargeable office space at Waterstones Business Park in Andheri East, Mumbai, for its global capability centre and commercial back-office operations. The space, located on the seventh floor of the building, has been taken on a 60-month lease from Striton Properties, commencing 1 May 2026, at a monthly rent of INR 1.55 crore, taking the total rental outgo over the lease period to INR 102.6 crore. The deal comes as global capability centres continue to drive a growing share of India's Grade-A office space demand, according to Colliers India.
Swiss private banking firm Julius Baer's India arm, Julius Baer Global Enterprise Services (India), has leased 74,037 square feet of chargeable office space in Andheri East, Mumbai, for its global capability centre (GCC) and commercial back-office operations, according to deal-related documents accessed through real estate data analytics firm Propstack.
The office space is located on the seventh floor of Waterstones Business Park in Andheri East. Julius Baer Global Enterprise Services (India) has leased the premises from Striton Properties. The lease commenced on 1 May 2026 for a tenure of 60 months, at a monthly rent of INR 1.55 crore, translating to approximately INR 209 per square foot. Over the full lease period, this takes the total rental outgo to INR 102.6 crore.
Julius Baer Global Enterprise Services (India) has paid a security deposit of INR 12.38 crore in connection with the lease, with rents subject to an annual escalation of 5 per cent over the tenure of the agreement.
The transaction adds to continued leasing activity by global capability centres across India's office real estate market, a segment that has consolidated its position as a primary driver of Grade-A office demand in recent years. According to a report by real estate consultancy Colliers India, GCCs have accounted for 37 per cent of overall Grade-A office demand since 2021, with a cumulative 118 million square feet leased during the period.
In the first half of 2026 alone, GCCs leased 16.6 million square feet, representing a 46 per cent share of total Grade-A office space uptake across the top seven Indian cities. Within this, the banking, financial services and insurance (BFSI) sector has emerged as a particularly significant driver of GCC office demand, with leasing volumes in the segment increasing nearly threefold between 2021 and 2025. BFSI accounted for 23 per cent of overall GCC leasing in the first half of 2026, according to Colliers.
Mumbai is expected to continue anchoring BFSI-related GCC operations in the country. The city recorded 1.2 million square feet of GCC leasing in the first half of 2026, accounting for a 7 per cent share of overall GCC leasing activity across the top seven Indian cities during the period.
Colliers projects annual GCC leasing in India at 35 to 40 million square feet over the next two years, with GCCs expected to account for 45 to 50 per cent of the country's total office space demand in both 2026 and 2027, underscoring the segment's growing weight within India's commercial real estate market.
The report did not specify the total headcount Julius Baer's India operations are expected to support from the new Andheri East facility, nor did it detail the specific functions or business lines that will be based out of the seventh-floor premises at Waterstones Business Park.
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