Apple India has signed a long-term lease for 2.7 lakh sq ft in Embassy Zenith, Vasanth Nagar, Bengaluru, committing ₹1,010 crore.
In what’s being seen as a major vote of confidence in Bengaluru’s premium commercial real estate, Apple India has locked in a massive 2.7 lakh sq ft office space in the heart of the city.
The upcoming office, housed in Embassy Zenith on Sankey Road, Vasanth Nagar, will likely become Apple’s largest workplace in India, with space to seat over 1,200 employees. The long-term lease, stretching over 10 years, comes with a staggering ₹1,010 crore commitment, making it one of the largest single-tenant commercial lease deals in Bengaluru’s recent memory, the Business Standard reported.
According to documents accessed via Propstack, Apple India will occupy the 5th to 13th floors of the high-rise, covering a carpet area of 1.96 lakh sq ft, with a total chargeable area nearing 2.7 lakh sq ft. The lease kicks off with a monthly rental of ₹6.3 crore, pegged at ₹235 per square foot and includes a built-in 4.5 per cent annual escalation clause – ensuring rent bumps over the decade.
In addition, the tech giant has shelled out a hefty ₹31.57 crore as a security deposit, apart from recurring payments for common area maintenance and parking.
Some sources told the publication that the company is already eyeing further expansion within the same building, with plans to potentially acquire an additional 1.2 lakh sq ft spanning the ground to fourth floors – a move that could take its total footprint at Embassy Zenith close to 4 lakh sq ft.
The building is owned by Mac Charles (India) Ltd, an entity tied to Embassy Group, one of Bengaluru’s most prominent commercial real estate developers.
This marks Apple’s second major office space in the city. In 2021, the company had leased 1.16 lakh sq ft in Prestige Minsk Square on Cubbon Road, where it began operations in 2023.
source/content: hindustantimes.com (headline edited)