Amazon Expands in Bengaluru with 1.1 Million Sq Ft New Office Space
- Industry News
- June 20, 2024
For the first time since 2019, office rental prices across India’s six largest cities have exceeded pre-pandemic levels, according to a report by Colliers India. The report reveals a steady rise in average office rents, reaching Rs 101.3 per square foot in 2024, up from Rs 99.5 per square foot in 2019. This marks a
READ MOREIndia’s commercial real estate saw a 54% year-on-year increase in large office space leasing in H1 2024, driven by corporate expansion and Global Capability Centres (GCCs). Bengaluru led with 4.5 million sq ft leased. Mid-sized office spaces grew by 70%, and flexible workspaces remain crucial for IT and startups.
READ MOREMorgan Stanley has secured a 1.1 million sq ft office space lease in Mumbai’s Oberoi Commerz III for ₹2,122 crore, marking India’s largest office lease deal this year. The nearly 10-year agreement reflects the growing demand for large-scale premium workspaces in India’s commercial real estate market.
READ MOREVolkswagen Group Technology Solutions India has leased 1.23 lakh sq. ft. in Pune’s Embassy Tech Zone to expand its operations. The five-year lease includes a four-month rent-free fit-out period. This reflects Volkswagen’s commitment to India amid the growing demand for office space driven by global capability centres (GCCs) nationwide.
READ MOREBlackRock 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 MOREDeloitte leases 175,000 sq ft in Prestige Trade Tower at Delhi’s Aerocity, marking Prestige Group’s commercial debut in the capital. This move reflects a strong demand for premium office spaces near the airport. The project includes hotel rooms, office spaces, and a convention centre set to boost Aerocity’s business landscape.
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