BlackRock, the world's largest asset manager, has signed a 10-year lease for over 1.65 lakh sq. ft. of office space in Goregaon, Mumbai.

The lease covers three floors in the Commerz III building, owned by Oberoi Realty, with a rental of more than 2.6 crore per month, bringing the total deal size to nearly Rs 400 crore. The agreement includes a 15 percent rental escalation every three years and a five-year lock-in period. This lease, effective from January, is part of BlackRock's expansion in India, signaling its long-term commitment to the market.

The company also secured exclusive access to over 90 car parking spaces. Prior to this, BlackRock leased 42,700 sq. ft. in Mumbai's Worli locality in August.

Operating in India since 2008, BlackRock offers various investment solutions across Mumbai, Gurugram, and Bengaluru.