News: CIBC Leases 1.21 Lakh Sq Ft Managed Office in Hyderabad-17-08-2026

Canadian Imperial Bank of Commerce (CIBC) has leased around 1.21 lakh sq ft of managed office space in Hyderabad for its global capability centre (GCC), according to property registration data accessed through Propstack. The lease runs for five years, with total rent estimated at around Rs 180 crore.

The starting monthly rent is Rs 2.72 crore, or around Rs 225 per sq ft, rising 5% annually, the documents showed. The space covers two floors of Meenakshi Eco Park, Tower 1. The landlord is KYVE Managed Office Spaces Pvt Ltd, part of the Meenakshi Group, as per the sublease deed. The built-up area is approximately 95,352 sq ft against the chargeable 1.21 lakh sq ft. CIBC paid a security deposit of Rs 16.30 crore and gets 121 car parking spaces.

Raja Seetharaman, co-founder, Propstack, said the deal reinforces the momentum of BFSI GCCs in Tier-1 tech corridors, and that choosing enterprise-managed space over traditional capex-heavy leases shows global firms prioritising plug-and-play ease. CIBC could not be reached for a comment.

Other large managed-office deals in the city include TableSpace Technologies Ltd’s five-year lease of around 5.06 lakh sq ft, with a total rental outgo of approximately Rs 163.3 crore, according to Propstack data. Smartworks Coworking Spaces Ltd renewed a lease of approximately 2.3 lakh sq ft in Madhapur at a total rent of Rs 121 crore.

A media report had earlier said CIBC’s planned GCC, expected to begin operations in July, was among the commitments made at the Telangana Rising Global Summit 2025. According to the Nasscom-Zinnov GCC Landscape Report 2026, 55% of top financial services companies that set up GCCs in India chose Hyderabad.

Knight Frank India said transactions of 100,000 sq ft and above accounted for 28.2 million sq ft, or 59% of the 48 million sq ft leased across the eight leading cities in H1 2026. Bengaluru led with 10.1 million sq ft, 72% of its leasing. Hyderabad and NCR followed with 4.9 million sq ft each, at 65% and 68% of their volumes, and Mumbai recorded 3.1 million sq ft, or 42%.

Hyderabad was the fastest-growing major market for large occupiers, with such leasing up 63% from 3 million sq ft in H1 2025. The share of large deals in its leasing rose from 51% to 65%, the report said.