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StanChart GBS' largest office globally coming up in Chennai's DLF Downtown

Standard Chartered GBS is leasing 770,000 sq ft to set-up its largest office establishment in this project

StanChart | Standard Chartered | DLF

T E Narasimhan  |  Chennai 

Standard Chartered GBS office in DLF Downtown, Chennai will be its largest campus globally

has inked an anchor deal with global business service (GBS) for the latter’s office building at Downtown, Chennai. GBS is leasing 7.7 lakh square feet to set up a mega office establishment. This is one of the largest commercial office space deals in India during recent times.

GBS office in Downtown will be its largest campus globally.

DLF refused to share financial details related to the detail. The tenure of the deal is 15 years.

Sources said it would cost Rs 400 crore-Rs 450 crore to set up the facility.

Standard Chartered GBS was established in Chennai in 2000, with six offices as a service centre for the Standard Chartered Group.

It’s Bengaluru office was opened in 2017. Today, the GBS employs over 21,000 people across its centres in Chennai and Bengaluru, which are the backbone of operations. Sources said the company may look at consolidating its operations from different locations to one.

Standard Chartered GBS has six or seven locations in Chennai, and its Nungambakkam facility (Chennai) is its own property, spread over 3 acres.

GBS also has facilities in Poland, Africa, Malaysia and China. Among these countries, the Indian operations is the largest. DLF and GIC, Singapore’s sovereign wealth fund (Government of Singapore) had entered into a strategic partnership to develop a rental assets portfolio with as one third partner. This is under the consolidated portfolio of DLF Cyber City Developers (DCCDL), a subsidiary of DLF.

DCCDL, the joint venture of DLF-GIC, and Tamil Nadu Industrial Development Corporation, announced the launch of DLF Downtown, Chennai, with an investment of Rs 5,000 crore, earlier this year.

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First Published: Wed, October 21 2020. 16:53 IST