Bosch leases 2.5 lakh sq ft office space in Hyderabad, Real Estate News, ET Real Estate


Bosch leases 2.5 lakh sq ft office space in Hyderabad

BOSCH About 2.5 lakh sq. ft. of office space is leased in Hyderabad To expand its operations in one of the biggest office leasing deals in the city in recent times. The new facility is in the Sattva Group-owned office Park-Knowledge City.

“The software major will pay a rental of around Rs 120 per sq ft or around Rs 30 crore annually. The lease term has a lock-in period of five years with a lease of 9 years,” said three people privy to the deal.

“The facility can seat around 3000 employees and will go live by the end of the year,” said a source quoted above.

in India, BOSCH Mobility Solutions is a leading supplier of technology and services in the areas of industrial technology, consumer goods, and energy and construction technology. Additionally, Bosch has the largest development center in India outside Germany for end-to-end engineering and technology solutions with approximately 15,650 research and development partners.

Bosch is expanding its IoT activities in India by relocating its headquarters in Adugodi, BangaloreIn a new smart campus called Spark.NXT.

Over the past five years, Bosch has invested Rs 800 crore in the development of the complex, which can potentially house 10,000 associates. The 76-acre site is Bosch’s first smart campus in India and features a range of smart solutions based on sustainability, security and user experience for associates, visitors and facility management.

Sattva Group has signed on to about 2 million square feet of office space in the first half of 2022 and expects to double that by the end of this year. The company currently has 12 million square feet of office space under construction in Bangalore and Hyderabad.

Salarpuria Sattva Knowledge City is located in Hyderabad’s dedicated Information Technology (IT) area – HITEC city and is one of the largest IGBC-certified platinum-rated green buildings, emerging as one of the key benchmarks for global occupiers Is.

Industry-wise, there have been some big deals in the Indian office space recently, with Bangalore leading the way in office leasing in the first half of this year. The IT/ITeS segment increased its share from 25% qoq to 33%, clearly underlining its continued dominance as the foremost occupier segment in India’s office space. Some of the larger companies that have recently leased large office space include Goldman Sachs, Cognizant Technologies and Infosys among others.

According to JLL, the Gross Lease Volume (GLV) for the second quarter of 2022 was recorded at 14.29 million sq ft, a 36% qoq over the previous 9 quarters and second only to Q4 2021. On semi-annual comparison, the GLV at 24.77 million sq ft during H1 2022 was almost 2X year over year and over 80% of H1 2019 numbers, indicating a steady yet continuous improvement in office market activity.





Source link

Leave a Reply

Your email address will not be published.