World Bank office in Chennai
Chennai: International finance lender World Bank is all set to expand its office space in Chennai. Sources said, the institution has finalised for an additional space of 70,000 square feet in SP Infocity, where it already has an existing office. The city is the only location where the World Bank functions outside its headquarters in Washington.
Regarding the new deal, it is said the 70,000 square feet will ensure it occupies about 1.2 lakh square feet in the neighbourhood of Perungudi itself. This, after taking into consideration the existing space.
This makes it the fourth such property acquisition by the World Bank. The first being Raheja Towers, Anna Salai in 2001, followed by Taramani in 2002. The latter houses close to 500 employees, it is learnt.
This particular land was first leased out by Tamilnadu government, and later brought back by the World Bank itself, as it chose to make the office a permanent back-up location.
Following this was the deal with SP Infocity in 2015. The city?s branch is said to be taking care of the accounting, financial, information technology and administrative operations of the global lender.