Earlier this year, the Global Board for Goldman Sachs met for it’s annual meeting in India. A first for Goldman Sachs and a silent vote for what the US banking major thinks of India’s role in its global plans.
And now Economic Times [ET] reports that Goldman Sachs have just concluded a deal to lease office space that is the size of nine football fields- 1.6 million sq.ft, in Bangalore. Touted to be the biggest recorded commercial real estate deal in India. This deal just eclipsed the 700,000 sq.ft. Cisco deal for office space in Bangalore and the 297,000 sq,ft. corporate HQ building bought by Citigroup in Mumbai in April this year.
“A deal for office space of this size suggests a major ramp-up by Goldman in India in the years ahead, with commercial property market experts estimating that one million square feet of space can seat around 10,000 people”, says ET. Currently Goldman’s India operations employs 4,000. Certainly Goldman seems to be bullish about India.
So, if you are in real estate, construction or in any infrastructure related business this piece of news should be talking directly to you. If you’d like to know more about this sector in India check out this earlier blog entry here: Doing business with India: Real Estate & Construction Industry
And if you are interested in ET’s full article on the Goldman Sachs deal, click: Goldman Sachs seals India’s biggest office space deal – The Economic Times.