Goldman Sachs commits to new central Paris headquarters

LONDON (Reuters) – U.S. bank Goldman Sachs has signed a lease for a new Paris headquarters building, committing to a city centre office development at a time when many banks are weighing scaling back their presence in cities amid the COVID-19 pandemic.

Goldman has signed a 12-year deal for 6,500 square metres of space at 83 Marceau, an office building being redeveloped a block away from the Arc de Triomphe, developer SFL said on Tuesday. The commitment represents 81% of the building’s floor space.

The project is expected to be completed in the third quarter of 2021.

(Reporting by Sinead Cruise, Writing by Iain Withers, Editing by Chris Reese)