Microsoft is in the final stage of talks with Prestige Group to sign a nine-year lease deal for a 600,000 sq ft office space.
The Redmond-based company has been looking out for a bigger office space for a long time to implement its CEO Satya Nadela’s plan to reach the local market and utilize engineering talents. The company is most likely to move its employees to a 6,000 seating capacity campus by the first half of this year. The plan is to merge its most of its India operations and make the base for any future expansion.
“We regularly undertake a strategic assessment of our real estate portfolio in Bengaluru to ensure that we have the right long-term plan in place to support our business growth. We will share more details as we finalise our plans.” Says a Spokesperson, Microsoft.
With this deal, there is no denying that India’s office market segment is making a significant growth with a deal over 43 million sq. ft. of space which is recorded as all-time high with 9 per cent yearly boost. Bengaluru and National Capital Region (NCR) have been quite ahead in leasing activity with 47 per cent of share.
Source: ET Realty