Google Leases 5.5 Lakh square feet Office Space in Gurugram
Real Estate

Google Leases 5.5 Lakh square feet Office Space in Gurugram

US technology giant Google has entered into a lease agreement for 550,000 square feet of office space with managed workspace provider Table Space at a commercial complex in Gurugram, according to two sources familiar with the matter.

The deal is reportedly one of the largest managed workspace transactions in the country. However, the duration of the lease and the financial terms have not been disclosed by the sources.

The agreement also includes an option for Google to lease an additional 200,000 square feet in the future, potentially increasing its total leased space to 750,000 square feet. Furthermore, the company is said to be in discussions to lease an entire tower in Gurugram.

One of the sources mentioned that Google has been expanding its office footprint in India and had been searching for large office spaces for over a year. The source added that the agreement with Table Space was recently finalised. While Table Space declined to comment on the matter, Google did not respond to an email inquiry.

In 2022, Google ended a lease for 700,000 square feet in an office complex in Gurugram. The initial agreement for that space had been signed in June 2020.

Meanwhile, other major companies have also secured office space in the same complex. Technology giant IBM leased 260,000 square feet, and US networking systems and software company Ciena leased 135,000 square feet.

The demand for Grade A office space is being driven primarily by the return-to-office trend among technology firms. Industry experts suggest that other contributing factors include the rise of new global capability centres (GCCs), an increase in flexible workspace operators, the growth of unicorn startups, and the continued expansion of major tech companies.

According to real estate consultancy Cushman & Wakefield, office space leasing in India is projected to reach a record 83-85 million square feet in 2024, representing a 13 per cent increase over the previous peak in 2023. India has established itself as a global leader in office leasing, surpassing markets such as the US and China. Within the Asia-Pacific region, India is expected to account for nearly 70 per cent of total net absorption by the end of the year.

US technology giant Google has entered into a lease agreement for 550,000 square feet of office space with managed workspace provider Table Space at a commercial complex in Gurugram, according to two sources familiar with the matter.The deal is reportedly one of the largest managed workspace transactions in the country. However, the duration of the lease and the financial terms have not been disclosed by the sources.The agreement also includes an option for Google to lease an additional 200,000 square feet in the future, potentially increasing its total leased space to 750,000 square feet. Furthermore, the company is said to be in discussions to lease an entire tower in Gurugram.One of the sources mentioned that Google has been expanding its office footprint in India and had been searching for large office spaces for over a year. The source added that the agreement with Table Space was recently finalised. While Table Space declined to comment on the matter, Google did not respond to an email inquiry.In 2022, Google ended a lease for 700,000 square feet in an office complex in Gurugram. The initial agreement for that space had been signed in June 2020.Meanwhile, other major companies have also secured office space in the same complex. Technology giant IBM leased 260,000 square feet, and US networking systems and software company Ciena leased 135,000 square feet.The demand for Grade A office space is being driven primarily by the return-to-office trend among technology firms. Industry experts suggest that other contributing factors include the rise of new global capability centres (GCCs), an increase in flexible workspace operators, the growth of unicorn startups, and the continued expansion of major tech companies.According to real estate consultancy Cushman & Wakefield, office space leasing in India is projected to reach a record 83-85 million square feet in 2024, representing a 13 per cent increase over the previous peak in 2023. India has established itself as a global leader in office leasing, surpassing markets such as the US and China. Within the Asia-Pacific region, India is expected to account for nearly 70 per cent of total net absorption by the end of the year.

Next Story
Infrastructure Transport

Buying a TBM?

Tunnel-boring machines (TBMs) are increasingly being used in India for metro, rail and other infrastructure projects. Choosing the right TBM is vital to work efficiently, speedily and safely. Here’s a guide on how to make the right choice.Geological compatibilityTBMs are specifically designed and customised to suit the unique geological and geotechnical conditions of the area where tunnelling will take place. So, an extensive and thorough geotechnical investigation is conducted prior to the machine’s design and fabrication. “The tunnelling company accurately compiles soil sampling f..

Next Story
Real Estate

Kitchen Dynamics

Modular kitchen design trends lean towards sustainability, smart technology integration, minimalist aesthetics and multifunctional spaces, says Rajkumar Kumawat, Founder and Principal Architect, Rajkumar Architects.Noticeable designs“A shift towards warm minimalism, where clean lines are balanced with tactile finishes such as fluted wood, brushed metals and muted stone surfaces, is a noticeable trend,” says Harkaran Singh Boparai, Founder and Principal Architect, Harkaran Boparai Studio. “Also, matte lacquers in deep, earthy tones are replacing gloss finishes, bringing a s..

Next Story
Real Estate

Redevelopment Rush

Mumbai is on the cusp of an urban transformation, driven by the pressing need to replace ageing, unsafe buildings with modern, high-density developments. The scale and pace of redevelopment across the city is unprecedented – and yet fraught with complexity.Redevelopment has become a defining strategy for urban renewal in Mumbai. One of the most challenging aspects is the displacement it entails – residents are often required to vacate their homes and live in transit accommodations until the new structures are ready. This raises valid concerns: Will the transit housing meet our needs? Will ..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?