Amazon Expands in Bengaluru with 1.1 Million Sq Ft New Office Space
- Industry News
- June 20, 2024
BHIVE Workspace partnered with Century Real Estate to acquire 39,753 sq. ft. in Bengaluru for INR 3.54 crore. The premium property on Old Airport Road adds 1,000+ seats, enhancing offerings for startups and enterprises. This expansion supports BHIVE’s aggressive growth strategy, targeting six major cities and redefining India’s coworking landscape with innovation and flexibility.
READ MOREIndia has become a global hub for GCCs, leasing 28.8 million sq ft of office space between Q1 2023 and Q2 2024. Driven by a cost-effective talent pool and world-class infrastructure, GCCs occupy nearly half of India’s prime office inventory, with U.S. firms leading this transformation toward innovation and R&D.
READ MOREInnov8 plans to raise ₹100 crore to double its coworking centres to 100 by next year. The funds will drive growth through acquisitions, partnerships, and tech upgrades. With 350+ brands and newly managed office ventures, Innov8 is positioned to lead India’s booming coworking sector amid rising demand for flexible workspaces.
READ MOREIndia’s office space market recorded 18.61 million sq ft absorption in Q3 FY25, driven by BFSI and flex spaces contributing 39%. Southern cities led with 61% share, Bengaluru dominating at 36%. Vacancy dropped to 14.8%, while Hyderabad led new completions. Despite a 4% dip in construction, rentals remained stable.
READ MOREIndia’s office space market demonstrated resilience in Q3 FY24, with gross leasing activity rising 17% to 18.61 million square feet despite a 4% drop in new supply. According to a real estate consultant Vestian report, this trend highlights robust demand for prime workspaces in a dynamic and evolving market.
READ MOREAwfis Space Solutions, India’s leading flexible workspace provider, is set to double its capacity by FY27, driven by strong demand and its innovative managed aggregation model. With a ‘buy’ rating from IIFL Securities, Awfis projects a 33% CAGR in seat additions and 55% EBITDA growth, solidifying its leadership in the booming flex workspace industry.
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