New Launch - India Real Estate Report 2026.
Swiss private banking firm Julius Baer Global Enterprise Services (India) Pvt Ltd has leased office space in Mumbai's Andheri East for Rs 102.6 crore, according to property registration documents accessed by Propstack.
The company leased 74,037 sq ft of chargeable office space at Waterstones Business Park in Andheri East under a fresh five-year lease, adding to its office footprint in the city.
Lease terms at Waterstones Business Park
The leased premises are on the seventh floor of Waterstones Business Park, a commercial development owned by Brookfield India's Striton Properties Private Limited, which is the landlord for the transaction.
The lease commenced on May 1, 2026, and the transaction was registered on July 22, 2026.
- Monthly rent: around Rs 1.55 crore, at a rate of Rs 209 per sq ft per month
- Total rent over the 60-month tenure: estimated at around Rs 102.6 crore, excluding annual escalation
- Annual rent escalation: 5 per cent
- Security deposit: around Rs 12.38 crore
- Built-up area: 41,461 sq ft, against a chargeable area of 74,037 sq ft
Queries emailed to Julius Baer and Striton Properties had not received a response at the time of reporting.
Julius Baer has been expanding its India operations through its global enterprise services business, with Mumbai continuing to be an important location for financial services and corporate operations.
Also Read: Chubb Leases 1.68 Lakh Sq Ft in Hyderabad's Madhapur
Large office transactions drive 59% of H1 2026 leasing
Large office space transactions of 100,000 sq ft and above anchored India's commercial office market during H1 2026, accounting for 28.2 mn sq ft of leasing activity, according to a report released by Knight Frank India in July 2026.
The report said large office transactions contributed 59 per cent of the total office leasing volume of 48.0 mn sq ft, underscoring the continued preference of large occupiers for Grade A office assets such as Waterstones Business Park.
Also Read: India Retail Leasing Hits 2.4 MSF in Q2 2026: Report
GCC-led demand tops Bengaluru and Hyderabad
The report stated that Bengaluru and Hyderabad had the highest leasing activity, driven by leasing from Global Capability Centres (GCCs) among India's eight cities.
The eight cities tracked in the report include Bengaluru, Hyderabad, Delhi NCR, Mumbai, Pune, Kolkata, Chennai and Ahmedabad, reflecting the broad geographic spread of large-format office demand across the country's key commercial markets during the first half of the year, with financial services occupiers like Julius Baer forming part of that wider trend in Mumbai.
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