Swiss bank UBS has entered into an agreement to pick up 4 lakh sq ft of office space on lease at realty developer K Raheja Corp’s IT Special Economic Zone Gigaplex at Airoli in Navi Mumbai in one of the largest occupier lease transactions, three persons familiar with the development said. The Zurich-headquartered, NYSE-listed multinational bank is planning to utilise the space to develop its global service center hub here. This will be the first instance of an international bank setting up its service center in Navi Mumbai. Currently, three large domestic banks including State Bank of India and Axis Bank already have their back office units in Mumbai’s satellite city.
Read more: Economic Times