Adani Realty leases 30,000 sqft of space to Japanese largest bank MUFG.

The largest bank of Japan MUFG pick up 30,000 sqft of space on rent for 10 years for approximately Rs 90 crore at the commercial building in Adani Realty at BKC, sources said.

After many years in Nariman Point, the bank that started operations in Mumbai in 1953 relocates its Indian headquarters to BKC.

Established in Japan in 1919, the bank relocated to Hoechst House in Mumbai in 2004.

The bank has undertaken a lease of 10 years for 30,000 sqft

for Adani Realty in their commercial premises in BKC – Adani inspire.

The decision by the bank to enter BKC represents the trend of

many banks to choose this business district as their chosen place of operation.

“There is a driving force for such a change to proximity to consumers and staff and the potential infrastructure,” a different source said.

Though Adani Realty refused to comment, there was no response to an e-mail query sent to MUFG Bank. JLL India, the transaction consultant for the deal, also refused to comment.

The bank’s website states that its office in Mumbai is the hub for MUFG’s operations in India.

The bank is present in five locations throughout the country and meets the banking needs of Japanese and global companies that set up or develop businesses in India, according to the website.