Prestige Group has signed a Letter of Intent (LOI) with HSBC to pre-lease approximately 1.2 million sq ft of office space at Prestige JRC Signature Towers on Bengaluru's Outer Ring Road. The proposed agreement is for a 20-year lease and ranks among the largest office leasing transactions announced in India's commercial real estate market this year.
Under the proposed arrangement, HSBC will occupy two towers within the integrated commercial development. The project remains subject to the completion of definitive agreements and regulatory approvals. Once operational, the campus will consolidate the bank's teams currently working from multiple locations across Bengaluru, enabling greater collaboration and operational efficiency.
Bengaluru Continues to Attract Global Occupiers
The transaction reflects sustained demand for premium office space in Bengaluru, India's largest office leasing market. The city's mature technology ecosystem, availability of skilled talent and well-developed business infrastructure continue to attract multinational corporations establishing or expanding their Global Capability Centres (GCCs).
Prestige JRC Signature Towers is located on the Outer Ring Road, one of Bengaluru's most established commercial corridors. The micro-market houses several technology companies, financial institutions and multinational businesses, making it a preferred destination for large-scale corporate campuses.
Commercial Portfolio Receives a Boost
The agreement strengthens Prestige Group's presence in India's commercial real estate sector. The company has developed office, retail, hospitality and residential projects across multiple cities and continues to expand its commercial portfolio to meet demand from domestic and international occupiers.
For HSBC, the integrated campus is expected to support its long-term growth strategy in India. The bank has described India as one of its most important global talent centres, and the new facility is intended to bring employees together within a purpose-built workplace designed for future expansion.
- Developer: Prestige Group
- Occupier: HSBC
- Office space: 1.2 million sq ft
- Lease tenure: 20 years
- Project: Prestige JRC Signature Towers
- Location: Bengaluru Outer Ring Road
Large Office Deals Reflect Market Confidence
The latest transaction highlights continued confidence in India's Grade A office market, particularly in Bengaluru, where multinational firms continue to secure large office campuses to support long-term business expansion. Recent leasing activity by global occupiers has reinforced the city's position as a preferred destination for commercial real estate investment and GCC growth.
With construction of the two towers expected to be completed next year, the proposed lease further demonstrates the resilience of Bengaluru's office market and the growing preference among multinational companies for integrated commercial developments offering modern infrastructure and long-term scalability.
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