Schneider electric expands Bengaluru presence
  1. Home
  2. Equipment
  3. Schneider electric expands Bengaluru presence
Equipment

Schneider electric expands Bengaluru presence

03 Oct 2023 CW Team
Schneider Electric India, a subsidiary of the French multinational, has leased approximately 048 mn sq ft of office space in Bengaluru's Outer Ring Road (ORR) area from Bagmane, a real estate developer. This move is part of Schneider Electric's expansion plans and will establish its new facility at Bagmane Solarium, a large business park in Bengaluru, capable of accommodating over 4,800 employees. The 10-year deal includes a five-year lock-in period and focuses on the company's research and development and technology centre.

Bagmane Solarium, covering 85 acres with a built-up area of 10.5 million sq ft, houses various corporate tenants, including Cognizant, Baker Hughes, and Legato. Bengaluru's ORR has witnessed several significant transactions in recent quarters, making it a preferred destination for multinational companies due to the ample space available in extensive business parks.

Despite global economic challenges, many tenants initially adopted a cautious approach to expansion. However, in Q2 2023, there was a significant rebound, with a 2% year-on-year increase in office space absorption across the top six cities, according to industry experts. This growth has led to renewed leases and large office space deals, such as Schneider Electric's recent expansion.

Discover the Cement Expo! Click the button below to explore all the event details.

Visit Cement Expo Website

Schneider Electric India, a subsidiary of the French multinational, has leased approximately 048 mn sq ft of office space in Bengaluru's Outer Ring Road (ORR) area from Bagmane, a real estate developer. This move is part of Schneider Electric's expansion plans and will establish its new facility at Bagmane Solarium, a large business park in Bengaluru, capable of accommodating over 4,800 employees. The 10-year deal includes a five-year lock-in period and focuses on the company's research and development and technology centre. Bagmane Solarium, covering 85 acres with a built-up area of 10.5 million sq ft, houses various corporate tenants, including Cognizant, Baker Hughes, and Legato. Bengaluru's ORR has witnessed several significant transactions in recent quarters, making it a preferred destination for multinational companies due to the ample space available in extensive business parks. Despite global economic challenges, many tenants initially adopted a cautious approach to expansion. However, in Q2 2023, there was a significant rebound, with a 2% year-on-year increase in office space absorption across the top six cities, according to industry experts. This growth has led to renewed leases and large office space deals, such as Schneider Electric's recent expansion.

Previous
Raimondi cranes boosts Dubai construction

Next
BPE inks 3 major int’l collaborations 

Related Stories

Gold Stories

Opinion Poll

Question : What are you most interested in Construction Technology?

Latest updates

Real Estate
05 Dec 2023

Property registrations in Mumbai to touch 11-year high

POWER & RENEWABLE ENERGY
05 Dec 2023

HUL, Brookfield tie-up for green energy

POWER & RENEWABLE ENERGY
05 Dec 2023

GUVNL invites bids for battery energy storage systems

POWER & RENEWABLE ENERGY
05 Dec 2023

BluPine buys Acme solar assets

POWER & RENEWABLE ENERGY
05 Dec 2023

Sterlite bags green energy transmission project in R?than

ROADS & HIGHWAYS
05 Dec 2023

Mumbai coastal road to reach a milestone in December

ROADS & HIGHWAYS
05 Dec 2023

H.G. Infra bags 6-lane road contract from NHAI

ROADS & HIGHWAYS
05 Dec 2023

Noida plans new road to ease travel on expressway

Hi There!

Now get regular updates from CW Magazine on WhatsApp!

Click on link below, message us with a simple hi, and SAVE our number

You will have subscribed to our Construction News on Whatsapp! Enjoy

+91 81086 03000

Join us Telegram