Goldman Sachs is putting about $700 million into a new Dallas campus that is planned to open in 2028, adding a major project to the city’s growing finance presence. The New York-based investment bank’s 800,000-square-foot development is under construction near highways, office buildings and a sports arena.
The campus is designed to hold more than 5,000 area employees over time. Goldman already operates its second-biggest U.S. office in Dallas, behind its Manhattan headquarters, and the new project would expand that footprint.
Local political leaders and financial executives have promoted the city’s recent banking growth with the nickname “Y’all Street.” Aasem Khalil, a Goldman Sachs partner who leads the company’s Dallas office, said JPMorgan Chase and Morgan Stanley either have Dallas offices or are weighing them. Both of those firms are based in New York.
Khalil, who grew up in New York and relocated to Dallas for Goldman a decade ago, described the city in positive terms. “This is the most welcoming city you'll find anywhere in the country, if not the world,” he said. “The culture is amazing, and the business climate far surpassed any expectation that I had, when I came down here as an uninformed New Yorker.”
The growth comes as Texas draws large companies, affluent residents and possible banking clients. The article reported that Texas is the nation’s fastest-growing state, that North Texas is expected to reach 9 million residents by next year, and that it ranks ahead of California and New York for Fortune 500 companies.
