Real Estate News India:International safe haven Office Parks which is the joint wander between the Embassy Group and the Blackstone Group had proclaimed that India’s biggest business land manage e-trade titan Flipkart in Bangalore has marked on Saturday. It has a finalized negotiations for more than 3 million sq ft of prime office space in stages at Embassy Tech Village in Bangalore with a yearly lease of Rs 300 crore.
In spite of the fact that the organizations did not disclose the budgetary points of interest, two individuals acquainted with the matter said that the arrangement was marked at 50 for every sq foot and making it a 15 crore bargain. Juggy Marwaha, overseeing chief, south India for JLL affirmed the arrangement and expressed that; “this is the biggest office managing in India, we are feeling glad to have an accomplice will an Indian heading organization and the last assention will be marked inside 90 days.”
The primary stage which as of late brought $1 billion up in crisp financing at Embassy Tech Village on the Outer Ring Road Bangalore is required to convey right on time by one year from now as a hatching office in excess of 2500 seats. There is an alternative to expand this to 3.25 million sq ft through the following 3-5 years. International safe haven bunch said in an announcement.
So as to augment backing and innovation operations, the agreement is a part of Flipkart’s extension arranges as it will contract 12,000 individuals in the not so distant future. This office space is deliberately placed in heart of Bangalore with well network to IT centers of Whitefield and Electronic city.
Jitu Virwani, overseeing chief and director of Embassy Group said; “The workplace space will be rented to e-business goliath in stages. We have won this business bargain as of our notoriety and knowledge of having dealings with MNC’s similar to IBM and Microsoft and we are anticipating have a durable association with Flipkart.”
Towards the end, he likewise included that Embassy Office space will likewise be the developing office spaces for customers for both SEZ and non SEZ as a part of Embassy’s coordinated business park idea.