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Deloittea Big Four firm, has made deals Prestige Group And Salarpuria To secure three office spaces spread over 1 million sq ft to strengthen its operations in the Bangalore,
The firm has leased approximately 500,000 square feet of office space Prestige Tech Park on the Outer Ring Road and over 460,000 sq. ft. at Salarpuria Aura and Eminence in Bengaluru.
“The new office lease could offer 9,000 employees a lock-in period of five years and an option to renew for an additional five years for the next two years,” said two people with knowledge of the deals.
Deloitte did not receive a response to a mailed questionnaire till press time.
Deloitte has hired nearly 50,000 professionals in the past three years, nearly doubling its workforce in India.
The firm plans to continue investing in people and productive capabilities in India to support education, digital skills development and training opportunities in the country.
“In 2023, despite the uncertain office market, the office sector is poised for growth provided the economic environment remains bright. We do not expect leasing numbers to fall below peak levels of the pandemic, even Even in a pessimistic scenario,” said Piyush Jain, MD, Colliers India.
The Indian office leasing market has moved into the slow lane since the beginning of 2023 and is expected to pick up in the second half of the year, led by global competence centres, BFSI companies and startups with sound business models.
India’s office sector is likely to see around 35-38 million sq ft of gross leasing in 2023, with economic headwinds expected to ease by Q2 2022, and large businesses re-examining their leasing decisions were temporarily stopped, according to a joint Colliers-FICCI report.
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