Google takes 1.3 million sq ft of office space in Bengaluru on lease: Sources - ET RealEstate

Abstract

Tech giant Google has leased 1.3 million sq ft of office space in Bengaluru, according people aware of the deal, marking one of the largest office lease transactions in the country since the pandemic began. Since the start of the pandemic, Google has taken up 2.8 million sq ft of office space in India, including flexible office space in Gurgaon. The company has four offices in India, including its country headquarters in Hyderabad."Google is also exploring flexible offices across various cities to implement a hybrid work model," said an industry source. Since the pandemic broke in 2020, AMD and BYJUs have signed over 5 lakh sq ft of office space each in Bengaluru. "Bengaluru leads in Q2 with 30% of the total absorption, followed by Hyderabad and Chennai. For south Indian cities, the market orientation meter is moving from tenant-friendly to balanced," said Arpit Mehrotra, MD Office Services, South India, Colliers. Taking cues from H1 2022, the second half of the year is expected to witness increased momentum in office space pick-up. In a recent report, Colliers India said office gross absorption across the top six cities saw almost a three-fold rise to 14.7 million sq ft during Q2 2022 compared with the same period last year.