BENGALURU: In its biggest real estate deal in India, Apple has leased about 4 lakh sqft of commercial office space in Bengaluru’s central business district, people familiar with the matter said.

Apple has signed a lease with Prestige Estates for its Minsk Square building and will pay a rental of Rs 170 per sqft, which works out to Rs 82 crore a year. The company has an existing lease of 50,000 sqft in the northern part of the city with RMZ, but sources said the company may vacate that space and consolidate its operations in the CBD.
Apple and Prestige did not respond to requests for comment. The deal has coincided with the iPhone maker launching its online retail store in the country in September.
New Apple office will host tech centre
The company, already making smartphones in India, is expected to open its first store in Mumbai next year. The new Bengaluru office space will host a large technology centre which can seat 4,000 employees, but the numbers could be less as companies look to de-densify their workspaces due to the pandemic.
Apple advertised vacancies for 18 jobs in September on its website; seven of them are in Bengaluru and the rest across Hyderabad, Chennai and Gurgaon.
The company’s RMZ building in north Bengaluru is used for its design and development accelerator, which supports engineering talent and works to grow the country’s iOS developer community. The accelerator has supported thousands of local developers, and apps created by developers in India have become more critical to its ecosystem, the company said last month.
Over the past few years, the company has said India is one of its important markets, though it holds a miniscule share in the country’s smartphone segment due to the high price of its products. The company is said to be looking at shifting some of its production from China to India. The expanded technology centre suggests the company is keen to work more closely with India’s technology ecosystem and develop solutions useful for it in India.

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