IDFC FIRST Bank has leased over 1.4 lakh sqft of office space in Koramangala, Bangalore, to expand and consolidate its operation in the city. The newly leased property has a total lease tenure of 9 years.
Major international and domestic companies have secured sizable office space leases over the past six months, signalling the BFSI sector's strong resurgence. Bengaluru has also witnessed a notable increase in BFSI occupancy over the past 4-5 years.
This surge in demand for office space can be attributed to the expansion efforts of domestic and select global banks and financial institutions, including JP Morgan, HDFC, Axis, and Morgan Stanley. These institutions bolstered their presence in the country as more employees returned to office environments.
