Goldman Sachs is leasing one million square feet of office space in Bangalore to house its 4000 back office staff in India's technology capital.
The new site will replace six Bangalore premises currently used by the investment bank when it opens in 2017, a spokesman told Reuters. The 4000 employees work in back office roles from IT to finance.
According to the Economic Times, property company Kalyani Developers will build a three-building campus for the bank on a 14 acre site.
The agreement is understood to be the biggest recorded commercial property deal in India's history and comes a month after Citi spent $175 million on 297,000 square feet in Mumbai.