DBS Bank India has sanctioned a fresh construction finance facility of ₹520 crore to a special purpose vehicle (SPV) of Mumbai-based real estate developer K Raheja Corp for the development of a commercial tower in Pune. According to reports from Business Standard, the facility will finance a 1.1 million square feet (msf) Grade A commercial tower located in Balewadi, one of Pune's fastest-growing business districts. The latest development confirms that the project is now LEED Platinum pre-certified, positioning it as one of the most sustainable commercial developments in the region.
The project addresses growing demand for high-quality office spaces in Pune's expanding business ecosystem. As reported by Savills India, Pune recorded office space absorption of 6.4 million square feet in the first half of 2026 (H1 2026), representing a 56% year-on-year increase. The city emerged as India's second-largest office market after Bengaluru, with leasing activity primarily driven by information technology and business process management sectors. India's commercial real estate sector continues to see strong momentum, supported by the growth of Global Capability Centres (GCCs) and rising preference for quality, sustainable and efficient workplaces.
According to Vinod Rohira, managing director and chief executive officer of K Raheja Corp, Balewadi is fast becoming the epicentre of Pune's commercial growth story. The development is designed to deliver cutting-edge ecosystems built to attract top talent and support business growth, particularly as global capability centres and growth-stage enterprises expand in the region. As reported by Business Standard, the project reflects the growing demand for future-ready commercial developments, with sustainability being integral to the construction process rather than an added feature. The facility is designed to meet global green building standards and focus on sustainability in both construction and long-term operations.
Santanu Mitra, managing director and country head, corporate banking (large and midcap), DBS Bank India, emphasized the bank's commitment to supporting sustainable development through tailored financing solutions. According to Business Standard, the partnership reflects the growing demand for environmentally responsible workplaces and future-ready commercial developments. This transaction specifically reflects DBS Bank India's focus on financing high-quality assets that support India's urban growth and sustainability goals. The bank has been recognized as Best Bank for ESG in India – Euromoney Awards for Excellence 2026 and Best Bank for Sustainable Finance in India – Global Finance 2024.
