According to sources, Apple has rented out about 4 lakh sqft commercial office space in Bengaluru ‘s central business district. It is also its biggest real estate deal In India.
Apple rents 4 lakh sqft area to expand its business
Apple has signed a contract with Prestige Estates for Minsk Square Building and will pay a rent of Rs 170 per sqft, which totals up the amount to Rs 82 crores for a year. The company has an existing lease of 50,000 sqft with RMZ in the northern part of Bengaluru city. But the sources said. that the company soon will abandon the place and strengthen its operations in Central Bengaluru District.
Apple and Prestige didn’t respond to the requests for comments. However, the deal has coincided with iPhone makers launching its online retail stores in the country in September.
New office space in Central Bengaluru District
Although, the company is already making its smartphones in India and is expected to open its first store in Mumbai next year. In the new Bengaluru office space, the company will host a large technology center that can seat 4000 employees. The number of employees can be less as the company would prefer not to crowd their workspace due to the ongoing pandemic.
Apple also advertised for the 18 job vacancies in September. Seven of them are in Bengaluru alone and the rest are across Hyderabad, Chennai, and Gurgaon.
Local developers important for the company
The company office in RMZ building was used to design and develop an accelerator. It also supports engineer talent and works to grow the iOS developer community in the country. Last month, the company said, The accelerator supports the local developers and apps created by developers in India. It has become critical for the ecosystem of the company.
Indian market is one of the crucial markets: Apple
In the last few years, the company has said that India is one of the important markets for them. Although, Apple holds a small share in India’s smartphone segment due to its high price of products. The company is looking at shifting some of its production from China to India. The extended technology center suggests that the company is eager to work more closely with the Indian technology ecosystem and develop solutions useful for the company in India.