Amazon Expands in Bengaluru with 1.1 Million Sq Ft New Office Space
- Industry News
- June 20, 2024
HDFC Bank has signed a 10-year lease for 4.5 lakh sq. ft of office space in Mumbai’s Andheri East, valued at ₹1,020 crore. The deal includes 227 parking spaces and a 15% rent escalation every three years. This move aligns with HDFC Bank’s real estate restructuring and expansion strategy.
READ MOREHyderabad is on track to surpass 200 million sq. ft of office space by 2030, fueled by increasing demand from technology firms and Global Capability Centers (GCCs), according to a joint report by CBRE and the Hyderabad Software Enterprises Association (HYSEA). The city’s office stock has tripled since 2014, reaching nearly 137 million sq. ft as of December 2024.
READ MORENPCI has leased two floors in Mumbai’s Oberoi Commerz III, Goregaon East, for ₹2.15 crore per month. Spanning 115,332 sq ft, the 60-month lease includes a 15% rental hike after three years. This expansion aligns with NPCI’s strategy to strengthen India’s digital payments infrastructure and operational capabilities.
READ MORENuvama-Cushman & Wakefield JV raised ₹1,700 crore under its Prime Offices Fund (PRIME) to invest in Grade A+ office spaces across India’s top cities. With a ₹3,000 crore target, the fund aims to shape world-class workspaces, reflecting strong investor confidence in India’s booming commercial real estate sector.
READ MORETata Investment Corporation has acquired 43,000 sq ft of office space across two floors in Mumbai’s Wadala for INR 150 crore. The purchase in Lodha Excelus at New Cuffe Parade includes 63 parking slots. This move signals Tata’s strategic expansion amid rising demand for outright office ownership in India.
READ MOREHyderabad’s Grade A office vacancy rates are projected to reach 24% by 2026 due to record supply growth outpacing demand. Key areas like Gachibowli face rising vacancies, while Hitech City remains stable. Sustainability and tech-forward spaces are crucial for attracting tenants in this rapidly evolving commercial real estate market.
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