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) for five years, with the total rent estimated at around ₹180 crore, according to property registration data accessed through Propstack.
The lease has a starting monthly rent of ₹2.72 crore, translating to around ₹225 per sq ft. The rent will escalate by 5% annually over the five-year lease term, the documents showed.
The office space is spread across two floors of Meenakshi Eco Park, Tower 1, with KYVE Managed Office Spaces Pvt Ltd, part of the Meenakshi Group, as the landlord, the sublease deed showed.
While the chargeable area is around 1.21 lakh sq ft, the built-up area is approximately 95,352 sq ft, according to the documents.
CIBC has paid a security deposit of ₹16.30 crore for the lease. The office also comes with 121 car parking spaces, as per the sub lease.
“CIBC’s 1.2 lakh sq. ft. commitment in Hyderabad reinforces the relentless momentum of BFSI GCCs expanding in Tier-1 tech corridors. More notably, opting for enterprise-managed office space over traditional capex-heavy leases highlights how global giants are prioritising plug-and-play operational ease without sacrificing custom, institutional-grade scale,” said Raja Seetharaman, co-founder, Propstack.
CIBC could not be reached for a comment.
Hyderabad sees large managed-office deals
The CIBC transaction adds to a series of large office leasing deals involving flexible and managed workspace operators in Hyderabad.
TableSpace Technologies Ltd, a managed workspace solutions provider, has leased around 5.06 lakh sq ft of office space in Hyderabad. The five-year lease entails a total rental outgo of approximately ₹163.3 crore, according to Propstack data.
In another major transaction, Smartworks Coworking Spaces Ltd renewed its lease for approximately 2.3 lakh sq ft of office space in Hyderabad’s Madhapur, with a total rent of ₹121 crore, according to property registration documents accessed by Propstack.
Large office deals drive Hyderabad leasing
A media report had earlier said that Canadian Imperial Bank of Commerce (CIBC) announcing plans to set up a Global Capability Centre (GCC) and the proposed centre expected to begin operations in July, is among the investment commitments made at the Telangana Rising Global Summit 2025 that are now taking shape.
According to the Nasscom-Zinnov GCC Landscape Report 2026, Hyderabad has emerged as a key destination for financial services GCCs, with 55% of top financial services companies that established GCCs in India choosing the city.
According to Knight Frank India, large office transactions involving spaces of 100,000 sq ft and above continued to anchor India’s commercial office market in H1 2026. Such transactions accounted for 28.2 million sq ft, or 59% of the total 48 million sq ft of office leasing across the eight leading cities.
Bengaluru remained India’s largest market for large-format office transactions, recording 10.1 million sq ft of leasing in spaces above 100,000 sq ft. These deals accounted for 72% of the city’s total office leasing activity.
Hyderabad and NCR followed with 4.9 million sq ft each, with large transactions accounting for 65% and 68% of their respective office leasing volumes.
Mumbai recorded 3.1 million sq ft of large office leasing, representing 42% of its overall office transactions.
Hyderabad, however, emerged as the fastest-growing major office market for large occupiers. Leasing of spaces above 100,000 sq ft rose 63% year-on-year, from 3 million sq ft in H1 2025 to 4.9 million sq ft in H1 2026.
The share of large transactions in Hyderabad’s overall office leasing also increased from 51% to 65%, reflecting stronger demand from GCCs and other large enterprises seeking high-quality office campuses, the report said.
