+
 Hewlett Packard leases 1.8 lakh sq ft office space in Chennai
Real Estate

Hewlett Packard leases 1.8 lakh sq ft office space in Chennai

US technology firm Hewlett Packard had rented a 1.8 lakh sq ft office facility in Chennai to consolidate and boost its operation in the city.

HP will utilise the new space to house around 1,800 employees. The office area was coming up Prestige Metropolitan and inked at Rs 75 per sqft. The lease is for 15 years. Prestige Metropolitan is a five lakh sq ft Grade A Premium office development situated on Chennai’s main arterial road, mount road.

The new office for HP will witness it moving away from numerous areas in Chennai and consolidating in Prestige Metropolitan. The office is under fit-outs and will be operating between March and June 2022.

After the outbreak of the Covid-19 pandemic globally, HP has taken significant restructuring initiatives, including streamlining headcounts globally. The technology company presently employs 55,000 employees globally and anticipates restructuring programs to save $1 billion by next year.

In recent times, top Indian cities have seen a substantial increase in large office space deals. Bengaluru, the IT capital of the nation, registered the highest number of office agreements in 2021. Few of the large contracts closed recently in Bangalore alone comprises Cisco 2,700,000 sq ft Prestige Cessna and Byju's leasing 2,93,000 sq ft in PrestigeTech Park. It was followed by Collins Aerospace renting 2,75,000 sq ft in Northgate SEZ in the city.

The Indian office market is likely to observe a rebound driven development in the information technology, IT-enabled services sector record hiring and aggressive vaccination rates in the nation. By the end of the third quarter, the IT sector had rented 8 million sq ft.

Image Source

Also read: DLF to kick off construction of 2 million sq ft office space in Gurugram

US technology firm Hewlett Packard had rented a 1.8 lakh sq ft office facility in Chennai to consolidate and boost its operation in the city. HP will utilise the new space to house around 1,800 employees. The office area was coming up Prestige Metropolitan and inked at Rs 75 per sqft. The lease is for 15 years. Prestige Metropolitan is a five lakh sq ft Grade A Premium office development situated on Chennai’s main arterial road, mount road. The new office for HP will witness it moving away from numerous areas in Chennai and consolidating in Prestige Metropolitan. The office is under fit-outs and will be operating between March and June 2022. After the outbreak of the Covid-19 pandemic globally, HP has taken significant restructuring initiatives, including streamlining headcounts globally. The technology company presently employs 55,000 employees globally and anticipates restructuring programs to save $1 billion by next year. In recent times, top Indian cities have seen a substantial increase in large office space deals. Bengaluru, the IT capital of the nation, registered the highest number of office agreements in 2021. Few of the large contracts closed recently in Bangalore alone comprises Cisco 2,700,000 sq ft Prestige Cessna and Byju's leasing 2,93,000 sq ft in PrestigeTech Park. It was followed by Collins Aerospace renting 2,75,000 sq ft in Northgate SEZ in the city. The Indian office market is likely to observe a rebound driven development in the information technology, IT-enabled services sector record hiring and aggressive vaccination rates in the nation. By the end of the third quarter, the IT sector had rented 8 million sq ft. Image Source Also read: DLF to kick off construction of 2 million sq ft office space in Gurugram

Next Story
Real Estate

Shriram Properties Launches ‘Codename: The One’ in Bengaluru

Shriram Properties (SPL), a leading real estate developer focused on the mid-market and mid-premium segments, has announced the launch of its latest residential project under the banner “Codename: The One” in Bengaluru’s Electronic City corridor. This feature-rich gated community will offer 340 spacious 2- and 3-BHK residences, with a total saleable area of approximately 5 lakh square feet and an estimated revenue potential of over Rs 3.5 billion. The project is expected to be developed over a span of more than three years.  Strategically located near the Bommasandra Metro stat..

Next Story
Resources

India Warehousing Show 2025 Closes with Strong Global Presence

The 14th edition of the India Warehousing Show (IWS) 2025 concluded successfully at Yashobhoomi (IICC), Dwarka, drawing participation from over 300 exhibitors across 15 countries and welcoming 15,000+ visitors. Recognised as India’s leading platform for warehousing and logistics excellence, IWS 2025 offered a comprehensive display of cutting-edge automation, sustainable warehousing solutions, and next-gen supply chain technologies. The show was inaugurated by Shri Pankaj Kumar, Joint Secretary – Logistics, DPIIT, Ministry of Commerce and Industry, Government of India. In his opening a..

Next Story
Equipment

MHIET Launches 450kW Gas Cogeneration System with H₂ Co-Firing

Mitsubishi Heavy Industries Engine & Turbocharger (MHIET), part of the Mitsubishi Heavy Industries Group, has launched a new 450kW gas cogeneration system, the SGP M450, jointly developed with Toho Gas Co.,. The system supports hydrogen co-firing at up to 15 vol per cent, with no loss in performance or reliability.  The system is currently available in the Japanese market, and has been developed from the existing GS6R2 city gas engine platform. Key modifications were made to the fuel gas and engine control systems to enable hydrogen co-firing.   Verified through de..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?