Embassy REIT Leases 2.07 Lakh Sq Ft to Cybersecurity Firm Rubrik at Embassy TechVillage
- Industry News
- January 15, 2025
India’s Global Capability Centers (GCCs) are set to occupy 26 million sq ft of office space by 2027. With 6,667 deals from 2018-2023, GCCs are crucial to India’s innovation landscape. Projections show that 1,900 centres will be built by 2025, driven by the IT/ITeS, BFSI, and consulting sectors, highlighting India’s global strategic importance.
READ MOREBHIVE Workspace has leased 42,000 sq ft from Brigade Group in Bengaluru, expanding its presence in Mahadevapura. The new facility supports 1,200+ seats and features tech-enabled conference rooms. This lease is part of BHIVE’s plan to add 1 million sq ft of managed office space, doubling revenue to ₹348 crore in FY 2024-25.
READ MOREDelhi-NCR ranks as APAC’s fifth most expensive office rental market, with monthly prime office rents at Rs 340 per sq ft. Indian office space transactions surged 50% in Q2 2024, driven by returning employees and strategic corporate investments. Mumbai and Bengaluru also saw stable rental rates and high demand.
READ MOREThe Union Budget 2024-25 offers major advantages for the commercial real estate sector, including urban development, rental housing reforms, and policies supporting the growth of coworking spaces.
READ MOREAmerican Express opens its largest global office in Gurugram, India, spanning one million square feet. The LEED Gold-certified campus focuses on sustainability, health, and wellness and aims to enhance innovation. The new facility supports all company divisions and underscores AmEx’s commitment to leveraging local talent and expanding in India.
READ MOREWeWork India expands with 1.4 lakh sq ft of new office space in Bengaluru and Noida, opening in September-October 2024. The new locations will offer over 2,400 desks, enhancing WeWork’s presence across 57 locations in major Indian cities to meet the rising demand for flexible workspaces.
READ MORETata Realty secures an INR 825 crore loan from IFC for Chennai’s Ramanujan Intellion Park, India’s first IFC EDGE Zero Carbon certified asset. This funding will enhance sustainability, promote green building practices, and support a large workforce in a prime IT corridor, setting a benchmark for eco-friendly commercial spaces in India.
READ MOREBy 2027, India’s Global Capacity Centres (GCCs) are expected to expand their office space to 26 million sq ft, driven by a surge in leasing deals and strategic growth in the IT/ITeS and BFSI sectors. This growth not only underlines India’s pivotal role in global business innovation and talent acquisition but also sets a promising trajectory for the future of these sectors.
READ MORERecognising the coworking sector as an industry can drive growth through tailored tax incentives, especially in tier II and III cities. Promoting sustainability and ensuring access to affordable finance is crucial for its expansion, says Rishi Das, Cofounder of IndiQube.
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