Amazon Expands in Bengaluru with 1.1 Million Sq Ft New Office Space
- Industry News
- June 20, 2024
Samsung India made a significant move in Chennai, doubling its flexible workspace by leasing 1,000 desks at WeWork’s Olympia Cyberspace. While that might sound like just another corporate real estate update, it’s part of a bigger shift in how companies like Samsung are rethinking where—and how—their people work.
READ MOREChennai’s government-run co-working space, *Muthalvar Padaipagam*, offers affordable, well-equipped workspaces for entrepreneurs, professionals, and students. With low rates and quality amenities, it supports over 32,000 users in six months, promoting productivity and inclusivity. The success has sparked plans for expansion across Tamil Nadu.
READ MORETata Consultancy Services (TCS) has leased 630,000 sq. ft. in Chennai’s Ozone Techno Park, signaling a strong office space commitment despite a broader IT sector slowdown. While peers like Cognizant and Wipro scale back, TCS continues to expand, reflecting its long-term growth strategy and preference for physical office presence.
READ MOREWeWork India is expanding in Chennai and is planning a new space in DLF Cybercity, Porur, by next year. With a Rs 300 crore annual investment, it aims to add two million sq. ft. annually. Chennai’s rising office space demand, driven by tech and flexible workspace needs, fuels WeWork’s strategic growth in the city.
READ MORECognizant plans to sell its historic 15-acre Chennai headquarters for ₹750-800 crore by December 2024. The move marks a shift to its new India HQ at MEPZ, Tambaram, as part of consolidation efforts. The sale highlights operational streamlining amid challenges like delayed salary hikes and cost optimization initiatives.
READ MORETamil Nadu is tapping into its land bank to develop 30 Grade-A office spaces near metro stations in Chennai, addressing rising demand. With 10.8 million sq. ft. absorbed in 2023, the state eyes GCC growth, offering incentives to attract global firms. Chennai ranked third in GCC leasing, driving strategic economic expansion.
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