Japanese technology firm NTT Data leases one lakh sq ft in Gurugram
NEW DELHI: Japanese technology firm NTT Data has leased 100,000 (approximately) square feet (sq ft) office space at Brookefield’s Candor TechScpace in Gurugram. It is one of the biggest deals in the financial and tech hub since the lockdown.
“The company was searching for office space in north India for some time now and has finally locked in this office space in Gurugram,” says a familiar person.
According to the NTT Data, it would invest about $2 billion over the next four years to expand its data centre business in India.
On Wednesday NTT’s Global Data Center division has launched a new data centre in Mumbai, expanding its capacity in the country by 30%.
Brookfield denied commenting, while NTT Data did not respond to an email query till press time on Friday.
The deal comes when Noida had outpaced Gurugram in office space leasing in the months April-June, the first time in a decade.
According to property consultants this trend is likely to continue, with most deals in Gurugram in the July-September quarter being small-size ones.
According to the report of Knight Frank report, the first half of the year saw its average transacted space decrease to 2,927 square metres (sq m) from 4,340 sq m compared to the same period in 2019.
The number of deals in NCR also came down from 81 to 66 in the first half in the same period of 2019.
The trend of smaller deal sizes has been mainly derived because of smaller space take-up by corporates in Noida and Gurugram.
“In Gurugram, the grade A rental ranges above Rs 100 per sq ft. Most of the leasing activity this quarter has happened in Noida, where the rental is Rs 50-60 per sq ft. Most of the leasing has happened in new areas of Gurugram, where the rental is around Rs 60,” said a property consultant.
NTT, which had earlier acquired local data centre firm Netmagic, currently operates 10 data centres across four major cities, with over 1.5 million sq ft and over 150 MW of power generation.
It plans to double the data center capacity in the next two to three years.
