DBS Bank India has sanctioned a fresh construction finance facility of ₹520 crore to a special purpose vehicle of Mumbai-based real estate developer K Raheja Corp for the development of a Grade A commercial tower in Pune’s Balewadi area. Spread across 1.1 million square feet, the project is positioned in one of Pune’s rapidly expanding business districts and aims to meet the growing demand for high-quality, future-ready office spaces. DBS Bank India said the financing reflects its commitment to supporting sustainable commercial development through tailored funding solutions and sector expertise. K Raheja Corp Managing Director and CEO Vinod Rohira said Balewadi is emerging as a key centre of Pune’s commercial growth, supported by increasing demand from businesses and global capability centres. Pune’s office market has recorded strong momentum in 2026. According to Savills India, the city absorbed 6.4 million square feet of office space in the first half of 2026, marking a 56% year-on-year increase and the highest half-yearly leasing volume recorded in the city over the past decade. Pune also emerged as India’s second-largest office market after Bengaluru during the period. Demand was led by the IT-BPM sector, flexible workspaces, and engineering and manufacturing, with the latter moving into the top three demand drivers. The upcoming Balewadi development is expected to cater to global capability centres and growth-stage enterprises seeking modern office ecosystems designed to attract talent, support expansion and enhance business operations.
