Amazon Expands in Bengaluru with 1.1 Million Sq Ft New Office Space
- Industry News
- June 20, 2024
CapitaLand Investment (CLI) secures over SGD 1 billion for its India Growth Fund 2 (CIGF2) with Daibiru Corporation’s SGD 131 million investment. Focused on premium business parks, CIGF2 targets India’s gateway cities. Backed by Mitsubishi Estate, CLI’s asset-light model attracts global tenants and underscores international confidence in India’s commercial real estate market.
READ MOREAmazon India is relocating its Bengaluru headquarters to reduce costs, saving nearly ₹8 crore annually on rent. The move affects 5,000 employees and raises challenges for landlord Brigade Enterprises. Meanwhile, Amazon’s logistics and payments units show steady growth, and its wholesale division reduces losses amid stricter FDI regulations in India.
READ MOREDelhi NCR ranks India’s most expensive office market and 6th in Asia-Pacific, with rents at ₹340/sqft/month. Mumbai follows at 8th with ₹317/sqft, while Bengaluru ranks 18th as a cost-effective option. Knight Frank highlights stable rents, strong global demand, and record transaction volumes driving India’s thriving office market.
READ MOREEFC (I) Ltd launches EMBERSTONE SM REIT, India’s first managed office space-focused Small & Medium Real Estate Investment Trust, with SEBI approval to raise ₹500 crore. This milestone boosts EFC’s portfolio, enhances Assets Under Management, and underscores its innovative approach. Strong Q2 FY25 financial growth reflects robust market demand.
READ MOREIndia Accelerator launches a 23,000 sq. ft. coworking space in Pune, catering to startups, freelancers, and businesses. Equipped with modern amenities, the 500-seat facility fosters collaboration and innovation through community events. Backed by mentorship and funding, IA supports Pune’s thriving startup ecosystem, which is ranked South Asia’s 5th largest innovation hub.
READ MOREWeWork India revamps its board, appointing industry experts to drive growth and sustainability. Key additions include Mahua Acharya and Anupa Rajiv Sahney as Independent Directors, alongside leadership changes with Karan Virwani as MD & CEO. The strengthened board aims to enhance governance, innovation, and WeWork India’s presence in flexible workspaces.
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