Bengaluru pips Mumbai in BFSI office space

  • | Friday | 11th January, 2019

“The demand for office space is broad based and healthy across the country,” Mike Holland, CEO of Embassy Office Parks, said. Embassy Group, one of the city’s biggest office park providers, leased 4.8 million sqft last year across 38 deals, with BFSI contributing 25% to the total. Bengaluru is scoring over Mumbai as digitisation is becoming core to financial services, and the tech city is where digital talent is. These payment gateway companies included Visa, which expanded its total area by 50,000 sqft with property developer Bagmane in Bengaluru. These two sectors have long been the anchor lessors in India’s commercial office market.Bengaluru led in BFSI, taking as much as 42% or 1.9 million sqft of the total leases signed by this sector.

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