Amazon Expands in Bengaluru with 1.1 Million Sq Ft New Office Space
- Industry News
- June 20, 2024
Coworking firm Incuspaze has leased 1.15 lakh square feet in Bengaluru’s Whitefield to open a facility with 1,800 seats. This expansion supports their growth strategy amid rising demand for flexible workspaces in southern India, including Chennai and Hyderabad.
READ MOREThe Chennai Metropolitan Development Authority (CMDA) plans affordable co-working centres in CIT Nagar, Anna Nagar, and Kolathur to support middle-segment professionals. With a ₹30 crore investment, these centres will offer high-speed internet, workstations, meeting rooms, and libraries, fostering economic development and providing budget-friendly workspaces for entrepreneurs and freelancers.
READ MOREKolkata’s office space leasing surged 33% in Q2 2024, reaching 0.4 million sq ft, driven by the tech and BFSI sectors. H1 2024 saw a 23% rise in office transactions and a 6% rent increase. Despite recent stamp duty changes, residential sales grew 25%, with 9,130 units sold.
READ MOREIncuspaze leases 5.8 lakh sq ft of office space in Gurugram to meet rising demand for flexible workspaces. With 44 locations across 18 cities, Incuspaze is expanding amid a market surge, reflecting an increased preference for flexible office solutions driven by multinational companies and Global Capability Centres.
READ MOREIndia’s office market is set to become the “Office to the World,” with record leasing volumes projected for 2024. The first half saw 33.5 million sq ft leased, driven by Global Capability Centres and sectoral solid performances. Key cities like Bengaluru and Delhi NCR led the growth, reflecting positive market sentiments.
READ MOREMumbai’s office market saw a 79% year-on-year growth in H1 2024, with transactions reaching 5.8 million sq ft and new completions rising by 205%. Average office rents increased by 4%, reflecting strong demand. The residential market also thrived, with a 16% increase in sales and a 4% price rise.
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