Bank of America gets 1.60 lakh sq feet workplace in Mumbai’s Powai through 12-year lease

Synopsis Bank of America has actually rented over 160,000 sq feet office in Powai, Mumbai. The lease is for 12 years, with an alternative to broaden to 250,000 sq ft. This relocation represents a moving and growth of its existing center. Bachelor’s degree Continuum India will manage numerous worldwide services from this brand-new workplace. Operations are anticipated to begin in 6-8 months. AP Bank of America Global monetary services significant Bank of America has actually gotten more than 160,000 sq feet office in a business complex in Mumbai’s Powai region through a long-lasting lease of 12 years, with arrangements for future scalability to accommodate development, stated individuals with direct understanding of the advancement. Bank of America will be paying leasings of over Rs 350 crore for this brand-new workplace spread throughout 3 floorings. Based on the arrangement, it holds an alternative to get extra 1 lakh sq feet covering 2 floorings taking the overall size of the offer to 250,000 sq feet and rental payment to Rs 600 crore. The financial investment bank has actually participated in the lease contract with K Raheja Corp’s Chalet Hotels for this workplace at Cignus Powai through its subsidiary bachelor’s degree Continuum India. This relocation represents both a moving and growth of the business’s existing 15-year-old center in Mumbai’s Andheri suburban area. With this addition, bachelor’s degree Continuum’s overall property portfolio in Mumbai will surpass 4.25 lakh sq ft. “The deal was concluded and signed up on Friday. The lease term begins right away and the fit out work will begin quickly. Bank of America will begin running from the brand-new workplace in the next 6-8 months,” stated among the individuals pointed out above. The arrangement lines up with a wider pattern of Banking Global Capability Centers (GCCs) increasing their existence in Mumbai
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