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Amazon and its affiliates have secured two deals in India by acquiring over 8 lakh sq ft of space in Gurgaon and Hyderabad for web services, development centre, seller services and transportation services. DLF Downtown And Jaibheri Guna For a total of 15 years.
The deals were entered into earlier this year.
According to the lease registration document shared by PropStack, Amazon will pay a rent of Rs 45 to Rs 52 per sq ft. Orange Towers property in Hyderabad, whereas in downtown property Gurugram Will attract a rental of Rs 110.5 per sq ft for the lease period.
The deal marks the largest transaction to be registered for office leasing this year, with corporates taking a cautious approach to expansion and adopting more flexible office space.
Amazon is signing big commercial The space deals through 2022, and the recent transaction is one of the largest lease transactions ever signed by Amazon.
Last year, it signed a 4.5 lakh sq ft lease with K Raheja Corp for its data services business in Thane.
According to Cushman & Wakefield, gross leasing volume across top office markets for CY2022 was recorded at 71 million sq ft.
A study by Cushman & Wakefield noted that the IT-BPM sector continued to dominate leasing activity during the year with a share of 28%, followed by engineering and manufacturing at 15%.
However, as the market enters 2023 amid a global slowdown and ongoing layoffs by tech companies, IT/ITeS companies are likely to slow down their space take-up.
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