Morgan Stanley to establish new U.S. hub in Dallas

Morgan Stanley has announced plans to establish a new U.S. hub in Dallas, investing $684 million to create more than 3,800 jobs by 2035. The expansion is expected to bolster the region's status as a major financial services center.

The project includes an initial lease of approximately 255,000 square feet at Fountain Place downtown, with plans to move into a 700,000-square-foot campus in Uptown by 2031. The Trammell Crow Company is expected to invest an additional $650 million in the development of the new office tower, bringing the total project value to approximately $1.2 billion to $1.3 billion.

Texas Governor Greg Abbott and the Dallas Regional Chamber noted the investment as a significant development for the North Texas economy. The expansion is expected to drive demand across various sectors, including legal, accounting, technology, and real estate.