HSBC partner 5-year lease deal with RMZ for 3.6 lakh sq. ft. space in Bengaluru

Bengaluru News

HSBC the well-known international financial institution went into a five-year lease agreement with RMZ that is a Bengaluru-based firm for 3.6 lakh sq.ft. in order to have office.

The bank will occupy seven floors in the Ecospace Business Park at a rental cost of Rs. 80 per sq.ft. One of the officials said that HSBC will make use of the space for the expansion of its back-office operations in the city.

Also, the financial institution is likely to acquire the property by the second quarter because the buildings are in a fit-out stage. Also, it has a presence that felt in Bengaluru and is also searching for more such space to get the local people in.

One of the officials also said that the new space has a capacity to let nearly 4,000 employees operate. The HSBC has largest back office in Hyderabad that is spread over more than one million sft.

The IT and ITES companies prefer Bengaluru’s Outer Ring Road (ORR) micro market as the locale witness huge demand. The RMZ Ecospace, is also located here and covers more than 1.2 million sq.ft. with clients like Accenture, Microland and Northern Trust Bank.

HSBC is the seventh largest bank in the world and was established in 1865 at British Hong Kong.