BlackRock India Leases 1.4 Lakh Sq Ft in Bengaluru

17 Sep 2025 CW Team

The lease, among the largest transactions in India’s co-working sector, highlights the growing preference of global institutions for flexible office providers. The agreement, commencing October 1, 2025, covers ground plus five floors in KNG Tower 1 at Ashoknagar, MG Road — one of Bengaluru’s prime commercial hubs.

As per the lease document, BlackRock will occupy a chargeable area of 1,43,127 sq ft. The monthly rent is set at Rs 20.72 million, with a security deposit of Rs 210.75 million and an annual rent escalation of 5 per cent.

Flexible workspaces gain traction

The transaction underscores the resilience of Bengaluru’s Grade-A office market and the rising role of co-working operators in securing large-scale enterprise clients. For BlackRock, the lease signals a long-term commitment to expanding operations in India, reflecting the country’s growing importance in its global network.

Business Standard reached out to both BlackRock and IndiQube for comments but did not receive a response at the time of publication.

Office space demand surges

India’s office real estate sector has seen strong momentum. According to a joint report by Colliers and CREDAI, Grade-A office and industrial space in the country is projected to cross 2 billion sq ft by 2047, with the overall real estate sector expected to grow into a $5–10 trillion market. The report notes that India’s Grade-A office stock has already tripled since 2010, exceeding 800 million sq ft, fuelled by demand from Global Capability Centres (GCCs), BFSI, technology, and manufacturing firms.

The growing uptake of flexible workspaces has further strengthened India’s office market, cementing its role as a key driver of the country’s real estate growth.

Recent large transactions include Apple’s 2.7 lakh sq ft lease at Embassy Zenith, Bengaluru, valued at over Rs 10 billion, and TCS’s 1.4 million sq ft lease in Electronic City with a 15-year tenure.

News source: Business Standard

"Join industry leaders at RAHSTA Expo, India's premier platform for roads, highways and traffic infrastructure. Register now to explore innovations, network with experts and shape the future of mobility."

BlackRock Services India, the domestic arm of global asset manager BlackRock, has leased 1.4 lakh sq ft of office space at IndiQube Symphony in Bengaluru, according to Propstack data. The 10-year deal is valued at around Rs 4.10 billion.The lease, among the largest transactions in India’s co-working sector, highlights the growing preference of global institutions for flexible office providers. The agreement, commencing October 1, 2025, covers ground plus five floors in KNG Tower 1 at Ashoknagar, MG Road — one of Bengaluru’s prime commercial hubs.As per the lease document, BlackRock will occupy a chargeable area of 1,43,127 sq ft. The monthly rent is set at Rs 20.72 million, with a security deposit of Rs 210.75 million and an annual rent escalation of 5 per cent.Flexible workspaces gain tractionThe transaction underscores the resilience of Bengaluru’s Grade-A office market and the rising role of co-working operators in securing large-scale enterprise clients. For BlackRock, the lease signals a long-term commitment to expanding operations in India, reflecting the country’s growing importance in its global network.Business Standard reached out to both BlackRock and IndiQube for comments but did not receive a response at the time of publication.Office space demand surgesIndia’s office real estate sector has seen strong momentum. According to a joint report by Colliers and CREDAI, Grade-A office and industrial space in the country is projected to cross 2 billion sq ft by 2047, with the overall real estate sector expected to grow into a $5–10 trillion market. The report notes that India’s Grade-A office stock has already tripled since 2010, exceeding 800 million sq ft, fuelled by demand from Global Capability Centres (GCCs), BFSI, technology, and manufacturing firms.The growing uptake of flexible workspaces has further strengthened India’s office market, cementing its role as a key driver of the country’s real estate growth.Recent large transactions include Apple’s 2.7 lakh sq ft lease at Embassy Zenith, Bengaluru, valued at over Rs 10 billion, and TCS’s 1.4 million sq ft lease in Electronic City with a 15-year tenure.News source: Business Standard

Real Estate

07 Jul 2026

Pecan Realty Completes Rs 1.5 Billion Transactions

Pecan Realty has recently completed four institutional transactions worth over Rs 1.5 billion over the past two years, strengthening its position as an execution-led real estate platform. The deals include resolution-led acquisitions, structured finance transactions and capital partnerships across its development portfolio.The transactions covered acquisitions through the National Company Law Tribunal process and helped provide repayment or exits to both private and public sector lenders. The company said the deals demonstrate its ability to resolve complex project situations, work with instit..

Real Estate

07 Jul 2026

SNN Estates Expands North Bengaluru Housing Project

SNN Estates has announced an expansion of its SNN Estates Felicity residential project in North Bengaluru following strong buyer demand, with 75 per cent of the first-phase inventory sold within three days of launch.The developer will add 76 apartments in the new phase, taking the project's estimated revenue potential to around Rs 1,000 crore upon completion of Phase 2.Spread across 6.5 acres in Rachenahalli, near Manyata Tech Park, the project comprises 604 apartments in 1.5, 2, 2.5, 3 and 4 BHK configurations. The development includes a 50,000-sq-ft clubhouse with amenities such as sports co..

Infrastructure Urban

07 Jul 2026

SCG Drives ASEAN Industrial Transformation Strategy

SCG is strengthening its focus on ASEAN as a key growth region by advancing industrial transformation, enhancing competitiveness and building resilient regional value chains. Thammasak Sethaudom, President and Chief Executive Officer, SCG, highlighted the need for industries to continuously develop capabilities, strengthen resilience and deepen regional cooperation to achieve sustainable long-term growth.SCG views ASEAN as an important growth engine alongside China, supported by favourable demographics, trade connectivity and investment flows. With ASEAN’s GDP projected to grow by around 4.7..