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, strengthening the Canadian lender's presence in India as it expands its technology and financial services operations.
The five-year transaction carries an estimated total rental value of around ₹180 crore, according to property registration documents accessed by Propstack. The lease begins at a monthly rent of ₹2.72 crore, equivalent to approximately ₹225 per sq ft, with a 5% annual escalation during the lease period.
The office is located across two floors of Tower 1 at Meenakshi Eco Park in Hyderabad. KYVE Managed Office Spaces Pvt Ltd, part of the Meenakshi Group, is the landlord under the sublease agreement.
While the chargeable area is approximately 1.21 lakh sq ft, documents show that the built-up area is about 95,352 sq ft. CIBC has also paid a security deposit of ₹16.30 crore, and the agreement includes 121 car parking spaces.
The leasing transaction follows CIBC's opening of its global capabilities hub in Hyderabad in July. The bank said the facility forms part of its wider modernisation strategy and will strengthen its global operations across Canada, the United States, Europe and Asia.
CIBC is using the Hyderabad centre to bring some work previously managed by third-party providers in-house. The bank has said the operation will support its client-focused growth strategy while strengthening collaboration across businesses and geographies.
The centre is also expected to expand CIBC's access to technology and financial services talent in India. Earlier announcements indicated that the Hyderabad operation could create more than 2,000 jobs across areas including banking technology, data and related functions over the coming years.
The deal comes as Hyderabad attracts a growing share of global capability centre activity, particularly from banking and financial services companies.
According to the Nasscom-Zinnov GCC Landscape Report 2026, cited in the property report, 55% of leading financial services companies that established GCCs in India selected Hyderabad. The city has also seen substantial office leasing from managed and flexible workspace providers.
Large-format transactions continue to account for a significant portion of India's commercial office market. Knight Frank India data cited in the report showed that deals involving spaces of 100,000 sq ft or more accounted for 28.2 million sq ft, or 59% of the 48 million sq ft leased across India's eight leading office markets during the first half of 2026.
Hyderabad recorded 4.9 million sq ft of large-format office leasing during the period, with such transactions accounting for 65% of the city's overall leasing volume.
For CIBC, the managed-office transaction provides physical infrastructure for a Hyderabad operation that forms part of its broader effort to modernise technology and operational capabilities while expanding its global talent network.
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