28 Sep '16, 7pm

"Singapore's DBS Bank set to lease 100000 sq. ft in Mumbai - Livemint"

"Singapore's DBS Bank set to lease 100000 sq. ft in Mumbai - Livemint"

Mumbai: Singapore’s DBS Bank Ltd is close to leasing nearly 100,000 sq. ft at Express Towers, a 25-storeyed building in Mumbai’s Nariman Point, in one of the biggest office space deals in the business district since the 2008 global financial crisis that prompted many corporates to leave the locality. The bank is close to signing the lease agreement at a monthly rental of Rs230 per sq. ft, which works out to Rs28 crore a year, three people aware of the development said, on condition of anonymity. Global private equity firm Blackstone, which jointly owns Express Towers along with Pune-based Panchshil Realty Ltd, declined to comment. A DBS Bank official involved in the development said the bank, which currently operates from a 72,000 sq. ft office space at Fort House in South Mumbai, has been looking for a more spacious office. “We have run out of space and we need a bigger o...

Full article: http://www.livemint.com/Companies/IEAVse6kU68uBsK619eNXO/...

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