Tech Giant Apple Inc leases one entire office tower in Bengaluru from Embassy Group

Apple Inc, a renowned technology company headquartered in the United States, has made the strategic decision to lease office space from real estate developer Embassy Group in Bengaluru.

In a groundbreaking move, the maker of iPhones and iPads will be paying a monthly rent of over Rs.220 per sq ft for a vast office space spanning more than 400,000 sq ft on Sankey Road, thus establishing a new benchmark in India's Silicon Valley's office property market.

This will be the US technology giant's latest addition to its corporate office footprint in India spanning Bengaluru, Mumbai, Hyderabad, and Gurugram. 

One of the official of the company said, "A letter of intent (LOI) to lease the tower was inked recently, and the deal will see an escalation of 15% every three years.”

Apple's new office space in Bengaluru is part of a commercial project being built on a nearly 2.3-acre land parcel that earlier housed the Le Meridien hotel overlooking the Bengaluru Golf Club and Cubbon Park.

The Embasssy group has acquired the hotel few years ago. The project comprising two basements, a ground floor, and 13 upper floors will cover 30,000 sq ft. This will Apple’s second largest facility center in Bengaluru. The property will soon go under fit out and will be operational by 2025.

Apple inked an agreement in 2021 with The Prestige Group, a real estate conglomerate, to secure over 400,000 sq ft of space in Bengaluru. This space will serve as the workplace for employees managing both Indian and Global operations, in addition to housing its experience center. The lease can be extended for three more terms of five years each, with strict regulations prohibiting any competition from companies such as Alphabet, Microsoft, Samsung, Xiaomi, and Amazon.