Cisco renews lease for nine commercial buildings in Bengaluru

19 Oct 2021 CW Team

Cisco Systems India has renewed its lease for nine office spaces of over 2.7 million sq ft in the largest lease transactions in the country since the beginning of the Covid-19 pandemic.

The company signed a deal with the Blackstone Group to renew the lease at the Cessna Business Parks at the Outer Ring Road in Bangalore.

It had renewed the lease for the office space, which houses its data labs and development offices for the coming five years at a 20% increase to existing rentals, sources said.

Earlier, Cessna Business Parks was owned by a real estate developer, Prestige Estate Projects and sold Blackstone as a part of its Rs 7,460 crore transaction. Later, Blackstone integrated its assets with Nucleus Office Parks.

Occupants and tenants of the commercial complex in India, including large corporate offices, are renewing their lease agreements following the outbreak of the Covid-19 pandemic.

Corporates are renewing their office spaces in the main office markets where various deals were concluded.

With the onset of the pandemic in the country, nearly 21 million sq ft office spaces have been renewed since April 2020.

The rising interest in renewing the lease of office spaces by major organizations is an indication of the revival of business and hiring scenes.

The power of Indian offices since the outbreak of the Covid-19 pandemic shows that the IT or ITeS sectors have been largely affected by the economic decline. The occupiers continued to account for a majority of commercial lease activity at about 50% in 2020.

IT sectors in India are expected to hire over 350,000 employees in 2020, doubling the average in the last five years, changing into more official space.

The IT-BPO sector hired 55,000 employees in the June quarter and may conclude the net hiring to about 1.5 lakh employees, more than 50% of the best hiring year.

The second half of 2021 is expected to witness an increased momentum in the office space. The net office absorption in 2021 in seven main cities is likely to remain blunt at about 25.6 million sq ft if there are no lockdowns.

This year may conclude with a positive note due to the achieved vaccination targets and the declining rate of the Covid-19 pandemic.

Image Source

Also read: Rajasthan government finalises rates for issuing lease deeds

Cisco Systems India has renewed its lease for nine office spaces of over 2.7 million sq ft in the largest lease transactions in the country since the beginning of the Covid-19 pandemic. The company signed a deal with the Blackstone Group to renew the lease at the Cessna Business Parks at the Outer Ring Road in Bangalore. It had renewed the lease for the office space, which houses its data labs and development offices for the coming five years at a 20% increase to existing rentals, sources said. Earlier, Cessna Business Parks was owned by a real estate developer, Prestige Estate Projects and sold Blackstone as a part of its Rs 7,460 crore transaction. Later, Blackstone integrated its assets with Nucleus Office Parks. Occupants and tenants of the commercial complex in India, including large corporate offices, are renewing their lease agreements following the outbreak of the Covid-19 pandemic. Corporates are renewing their office spaces in the main office markets where various deals were concluded. With the onset of the pandemic in the country, nearly 21 million sq ft office spaces have been renewed since April 2020. The rising interest in renewing the lease of office spaces by major organizations is an indication of the revival of business and hiring scenes. The power of Indian offices since the outbreak of the Covid-19 pandemic shows that the IT or ITeS sectors have been largely affected by the economic decline. The occupiers continued to account for a majority of commercial lease activity at about 50% in 2020. IT sectors in India are expected to hire over 350,000 employees in 2020, doubling the average in the last five years, changing into more official space. The IT-BPO sector hired 55,000 employees in the June quarter and may conclude the net hiring to about 1.5 lakh employees, more than 50% of the best hiring year. The second half of 2021 is expected to witness an increased momentum in the office space. The net office absorption in 2021 in seven main cities is likely to remain blunt at about 25.6 million sq ft if there are no lockdowns. This year may conclude with a positive note due to the achieved vaccination targets and the declining rate of the Covid-19 pandemic. Image Source Also read: Rajasthan government finalises rates for issuing lease deeds

Infrastructure Urban

29 Oct 2025

Designing Tomorrow: Amaravati’s Net Zero Landmark

Amaravati has achieved a defining landmark in India’s sustainable infrastructure journey with the inauguration of the APCRDA Project Office, the nation’s first government building to earn the IGBC Net Zero Energy Rating – Design Stage. Conceptualised by the Andhra Pradesh Capital Region Development Authority (APCRDA) and certified by the Indian Green Building Council (IGBC), the project exemplifies how governance, design and innovation can converge to deliver measurable environmental impact.A vision rooted in sustainabilitySet within a 4.3-acre site along the Seed Access Road in the Amar..

Real Estate

29 Oct 2025

Pidilite Elevates Construction with PPS

Pidilite Industries introduced Pidilite Professional Solutions (PPS) — a dedicated vertical for the construction and interiors ecosystem — at ACETECH Bengaluru 2025. Designed to empower architects, developers, contractors, and interior specialists, PPS delivers comprehensive support that extends far beyond products to ensure project excellence from concept to completion. Kavinder Singh, Joint Managing Director, Pidilite Industries, noted, “At Pidilite, we believe in enabling the construction fraternity to build boldly and sustainably. With Pidilite Professional Solutions (PPS),..

Infrastructure Transport

29 Oct 2025

Punjab, Centre Fast-Track Rajpura-Mohali Rail Line Development

The central government has fast-tracked the construction of the Rajpura-Mohali rail line to enhance connectivity in Punjab. This ambitious infrastructure project, aimed at improving transportation links between Rajpura and Mohali, has been identified as a key step in fostering regional economic growth. Union Minister for Railways, Ashwini Vaishnaw, announced the project’s acceleration during a recent assessment of the area. The rail line is expected to play a significant role in reducing travel time, promoting industrial growth, and boosting logistics efficiency in the region. The project,..