Amazon Expands in Bengaluru with 1.1 Million Sq Ft New Office Space
- Industry News
- June 20, 2024
BlackRock Services India has leased 42,700 sq. ft. of office space in Mumbai’s Worli at Rs 1.1 crore per month. The five-year lease includes a 36-month lock-in period and escalations in rent over time. The office is located in the Altimus Tower by K Raheja Corp.
READ MOREFlutter Entertainment has invested $3.5 million to open an 80,000 sq. ft. Global Capability Centre in Hyderabad. The facility will support over 700 employees and plans to expand to 900 by 2024. The company aims to have 40% women in leadership roles by 2026.
READ MORENatWest Group has leased 3.7 lakh sq. ft. in Bengaluru’s Bagmane Constellation Business Park to expand its engineering workforce, which will be operational by April 2025. This move highlights Bengaluru’s appeal to MNCs, though Chennai is emerging as a strong competitor in the office space market due to lower rental rates.
READ MOREGlobal Capability Centers (GCCs) are driving a surge in India’s office space demand, with 53 million square feet leased since 2022. As 67% of GCCs plan to expand further, developers are focused on creating premium office spaces, particularly in regions like Delhi-NCR and Gurugram, to meet this growing demand.
READ MORETable Space is investing $100 million to expand its flexible office space portfolio by over 2 million square feet in key Indian cities like Bangalore, Mumbai, and Delhi NCR. This strategic move aims to meet the rising demand for modern, customisable workspaces and solidify Table Space’s leadership in the industry.
READ MOREHyderabad accounts for 14% of India’s office space, driven by solid demand from Global Capability Centers and tech firms. With office stock surging to 127 million square feet, the city is poised for further growth, supported by government initiatives and increasing interest from emerging sectors.
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