Chevron leases commercial space in Bengaluru

23 Sep 2024 CW Team

Realty firm RMZ Corporation has leased around 3 lakh square feet of commercial space in Bengaluru to Chevron Global Technology & Services. In a statement, RMZ announced its partnership with Chevron Global Technology & Services Pvt Ltd, which is setting up the $1 billion Chevron Engineering and Innovation Excellence Center (ENGINE) at RMZ's 'Ecoworld 30-series' project in Bengaluru.

Under the new lease agreement, RMZ will provide approximately 0.3 million square feet of commercial space, with options for further expansion. RMZ Corporation currently has 21 million square feet of office projects under construction and aims to expand its office portfolio to 50 million square feet across six cities over the next 2-3 years by adding an additional 30 million square feet of office space.

Thirumal Govindraj, CEO of RMZ Office and RMZ NXT, highlighted India's growing significance as a hub for Global Capability Centres (GCCs), with companies seeking advanced, tech-driven workspaces ranging from 50,000 to 100,000 square feet. He noted that this demand is driven by both established enterprises looking for multifunctional hubs and newer players seeking state-of-the-art infrastructure.

Akshay Sahni, Country Head at Chevron India, stated that the Chevron ENGINE centre would empower local talent in India to contribute to global operations and projects, helping to address current energy challenges and develop future energy systems.

RMZ Corporation, one of India's largest family-owned alternative asset owners, focuses primarily on real estate and infrastructure, specialising in premium office spaces, industrial and logistics developments, hospitality, luxury living, and mixed-use projects. The company is headquartered in Bengaluru.

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