JP Morgan Leases ₹1,000 Cr Office Space in BKC’s Sumitomo Tower

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JP Morgan has leased over 116,210 sq ft of office space in Sumitomo's commercial tower in Mumbai's Bandra-Kurla Complex (BKC), marking one of the city’s largest office pre-lease deals.

5 hours ago

The lease, structured for 10 years with an option to extend up to 25 years, involves a rental outlay of ₹1,000 crore in the initial term and over ₹2,500 crore overall. The new space, spread across the 11th and 12th floors, will house JP Morgan’s India headquarters. The firm will pay ₹6.91 crore monthly at a rate of ₹595 per sq ft, with a 15% rent escalation every three years, and has deposited ₹62.23 crore as security. The building is being developed by Goisu Realty, Sumitomo’s Indian arm, on a 3-acre plot leased from MMRDA. This deal highlights the growing interest of US firms in India's commercial real estate, reinforcing India’s role as a strategic hub for global corporate operations.

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JP Morgan has leased over 116,210 sq ft of office space in Sumitomo's commercial tower in Mumbai's Bandra-Kurla Complex (BKC), marking one of the city’s largest office pre-lease deals.

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JP Morgan has leased over 116,210 sq ft of office space in Sumitomo's commercial tower in Mumbai's Bandra-Kurla Complex (BKC), marking one of the city’s largest office pre-lease deals.