Itaú negotiates record office lease in São Paulo

Itaú Unibanco is in advanced negotiations with developer Eztec to lease both towers of the Esther Towers complex in the Chucri Zaidan area of southern São Paulo. On 3 September 2026, Broadcast confirmed the talks, which would mark the largest single office lease ever recorded in Brazil if completed.

The Esther Towers development began construction in 2019 and features two 26-story buildings standing 140 meters tall. Together they total 94,000 square meters of gross leasable area. The first tower will be delivered in 2026 and the second at the end of 2027. Eztec confirmed it is in advanced talks as part of its asset review, with Itaú holding priority despite interest from multinational tenants.

Itaú is also evaluating the Alto das Nações building by Altre, which will reach 219 meters in Chácara Santo Antônio, though talks with Eztec are further along. The bank is seeking commercial space to accommodate a revised work policy. Administrative staff will be required to work on site three days a week starting in the first quarter of 2028, while superintendents must attend four days starting in January 2027. The main headquarters at Ceic in Jabaquara will remain unchanged.