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Morgan Stanley Advantage Services has leased nearly 160,000 sq ft of Grade-A office space at Bengaluru's Ecoworld business park, with an annual rental obligation of around INR 23 crore. The five-year lease, effective earlier this year, includes a security deposit of INR 11.88 crore and a 15% rent escalation every three years. The office is expected to be operational by May. This expansion reflects Morgan Stanley's continued growth in India and sustained demand for premium office spaces from multinational financial services and technology firms in the Outer Ring Road corridor.
Morgan Stanley Advantage Services has secured close to 160,000 sq ft of premium office space at the Ecoworld business park in Bengaluru's Outer Ring Road corridor, agreeing to pay approximately INR 23 crore per year for a five-year term. The lease became effective earlier this year, and the office is expected to be operational by May. The property is owned by Arliga Ecoworld Business Parks and is considered among the city's most sought-after commercial locations. Advertisement
The agreement covers floors 8 and 9, with a monthly rental of INR 1.92 crore, translating to roughly INR 121 per sq ft per month. The lease also includes a security deposit of INR 11.88 crore and a 15% rental escalation every three years, which will gradually increase the total cost over the lease term.
Industry experts say the lease demonstrates Morgan Stanley's commitment to strengthening its India operations, particularly in Bengaluru, which supports a significant portion of the firm's technology, operations, analytics, and risk management functions for global businesses. Analysts note that Outer Ring Road continues to attract multinational financial services firms due to its robust talent pool, quality infrastructure, and availability of institutional-grade office campuses.
Ecoworld is one of Bengaluru's largest business parks, offering around 7.7 million sq ft of leasable office space. It hosts a mix of global capability centres, financial services firms, and multinationals. Key tenants include Honeywell, Standard Chartered, KPMG, Deloitte, Shell, State Street, Cadence, and Morgan Stanley itself, reflecting the park's status as a premium commercial hub.
Over the past year, Morgan Stanley has been actively expanding its footprint in India, renewing leases and adding space in Bengaluru and Mumbai. This includes a 2024 lease in Mumbai's Oberoi Commerz III, where the firm secured 1.1 million sq ft across 16 floors for over INR 2,100 crore on a 9.5-year lease. These moves align with a broader trend of global banks deepening operations in India, even as they optimize office portfolios in more mature international markets.
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