October 5, 2020

Apple leases 4 lakh sq ft office space in Bengaluru

BENGALURU: Recently in Bengaluru’s central business district Apple has leased about 4 lakh sqft of commercial office space.

 It is the biggest US-based tech giant’s real estate deal in India. Apple has signed the lease with Prestige Estates at its Minsk Square building. In this deal the company agrees to pay a rental of Rs 170 per sqft, which works out annually to Rs 82 crore. However Apple and Prestige did not respond to any comment. The deal has coincided with the iPhone-maker launching its online retail store. Apple has launched its online store in last month. Furthermore Apple is already making smartphones in India, has also declared that it will open its first physical store in Mumbai next month.

This new office space will host a large technology centre. The space is able to accommodate about 4,000 employees. Furthermore, the numbers may be less as companies look to ‘de-densify’ their workspaces due to the pandemic. Apple has also advertised 18 vacancies last month on its website, out of which seven are in Bengaluru and the rest across Hyderabad, Chennai, and Gurgaon. Apple has an existing lease of 50,000 sqft in the northern part of the city with RMZ, but sources said the company may give up on that and consolidate its operations in the CBD zone.

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