Global Banks Scramble for Land in Mumbai

You see the building behind me. It's one of the hottest new office addresses in Mumbai. Barclays, Morgan Stanley, and UBS have all set up shop here.Wall Street giants are pouring into the city to cash in on India's IPO boom and fast growing financial markets and that's reshaping Mumbai skyline. Analysts say over 350 skyscrapers could rise here in the coming years, but there's a catch. Mumbai is an island city with limited land.Nearly a quarter of its 21 million residents live in slums. Office rents in prime ...