Amazon will lease 1.1 million sq ft of office space in Bengaluru
Real Estate

Amazon will lease 1.1 million sq ft of office space in Bengaluru

As the US IT giant grows its operations in Bengaluru, it is leasing more than 1.1 million square feet of office space from property developer Sattva Group in North Bengaluru. In the Sattva Horizon Business Park, close to the international airport, Sattva Group has constructed a brand-new office tower. Over 7,000 workers will be able to live in the 11-story structure, which will be occupied exclusively by Amazon. According to individuals familiar with the deal, it was mentioned that Amazon had recently signed the term sheet, and that the new facility would accommodate all of the company's businesses. They stated that the facility was undergoing fit-out, and the first phase was anticipated to be operational by the middle of the following year. The most recent agreement followed three significant property transactions by Amazon, involving the acquisition of over 1.45 million square feet in Bengaluru, Gurugram, and Hyderabad. These office spaces were to be utilised for web services, development centres, seller services, and transportation services. One of the individuals mentioned above stated, "Amazon initially slowed down its expansion plans due to the prevalence of hybrid work models. However, the company is now seeking additional space in Hyderabad and Chennai to accommodate its growing operations." Amazon did not respond to ET's queries, while Sattva Group declined to comment. Several IT/ITES firms, including Amazon, shifted towards a hybrid work model, requiring employees to be in the office at least three days a week. However, with the return to work gaining ground, the demand for office space is expected to rise further. In the March quarter, office space transactions in the top eight markets in India reached 16.2 million square feet, marking a 43% year-on-year increase, according to Knight Frank. These transactions were primarily driven by India-facing businesses and Global Capability Centres (GCC) looking to enhance their presence. Bengaluru led the office market growth, securing the top position with 3.5 million square feet of transactions, comprising 22% of the total office take-up during the quarter, the property consultancy reported.

The 14th RAHSTA Expo, part of the India Construction Festival, will be held on October 9 and 10, 2024, at the Jio Convention Centre in Mumbai. For more details, visit: https://rahstaexpo.com

As the US IT giant grows its operations in Bengaluru, it is leasing more than 1.1 million square feet of office space from property developer Sattva Group in North Bengaluru. In the Sattva Horizon Business Park, close to the international airport, Sattva Group has constructed a brand-new office tower. Over 7,000 workers will be able to live in the 11-story structure, which will be occupied exclusively by Amazon. According to individuals familiar with the deal, it was mentioned that Amazon had recently signed the term sheet, and that the new facility would accommodate all of the company's businesses. They stated that the facility was undergoing fit-out, and the first phase was anticipated to be operational by the middle of the following year. The most recent agreement followed three significant property transactions by Amazon, involving the acquisition of over 1.45 million square feet in Bengaluru, Gurugram, and Hyderabad. These office spaces were to be utilised for web services, development centres, seller services, and transportation services. One of the individuals mentioned above stated, Amazon initially slowed down its expansion plans due to the prevalence of hybrid work models. However, the company is now seeking additional space in Hyderabad and Chennai to accommodate its growing operations. Amazon did not respond to ET's queries, while Sattva Group declined to comment. Several IT/ITES firms, including Amazon, shifted towards a hybrid work model, requiring employees to be in the office at least three days a week. However, with the return to work gaining ground, the demand for office space is expected to rise further. In the March quarter, office space transactions in the top eight markets in India reached 16.2 million square feet, marking a 43% year-on-year increase, according to Knight Frank. These transactions were primarily driven by India-facing businesses and Global Capability Centres (GCC) looking to enhance their presence. Bengaluru led the office market growth, securing the top position with 3.5 million square feet of transactions, comprising 22% of the total office take-up during the quarter, the property consultancy reported.

Next Story
Infrastructure Urban

India, US to promote sustainable aviation fuel and hydrogen in buses

India and the United States have agreed to promote sustainable aviation fuel (SAF), electrification of medium and heavy-duty vehicles, and the use of hydrogen in buses, tractors, and heavy equipment. This decision came during the Strategic Clean Energy Partnership (SCEP) dialogue between US Energy Secretary Jennifer Granholm and Indian Minister of Petroleum and Natural Gas Hardeep Singh Puri in Washington, DC. Both nations also encouraged increased investments in each other's clean energy markets. The joint statement emphasised the importance of a "just, orderly, and sustainable energy trans..

Next Story
Infrastructure Transport

Tuticorin Airport upgradation set for December completion

Tuticorin Airport in Tamil Nadu is undergoing a significant upgrade, with an expected completion date in December 2024. The project, valued at Rs 3.81billion, is being carried out by the Airports Authority of India (AAI) and involves the extension of the runway to accommodate A-321 type aircraft, construction of a new apron, a new terminal building, a technical block with a control tower, and a new fire station. The new terminal building, covering 17,500 square meters, will significantly enhance the airport's capacity, enabling it to serve 1,440 passengers during peak hours and handle up to 2 ..

Next Story
Infrastructure Transport

Airfare hike not tied to increased airport charges; ACI

The Airports Council International (ACI) stated that rising airfares are not linked to increased airport charges. Airport charges are crucial for infrastructure development within the commercial aviation ecosystem, but they remain a minimal part of the overall airfare. Stefano Baronci, Director General of ACI Asia Pacific & Middle East, emphasized that airports are infrastructure-intensive businesses, with costs dominated by maintaining essential infrastructure such as runways, taxiways, aprons, and terminal buildings. He noted that neglecting the capital expenditure needed to support future g..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000