IBM signs lease agreement for 5 lakh sq ft office space in Bengaluru

30 Nov 2021 CW Team

Even as the work-from-home model has become the mainstay for many companies since the Covid-19 outbreak, technology giant IBM has signed lease agreements for 500,000 sq ft of office space in a special economic zone (SEZ) in Bengaluru.

For the upcoming project, the US-based company will pay a base rent of 52 per sq ft with a 15-year lock-in period.

According to two people familiar with the deal, the developer will be doing the fit-outs for IBM, which plans to use the space in Bhartiya City to consolidate its Bengaluru operations.

Bhartiya City is a 3 million sq ft office development in an integrated business park. The project includes both SEZ and non-SEZ components. Large technology firms have already leased 1.5 million sq ft at Bhartiya City.

In the non-SEZ portion, IBM is in talks with the builder for an additional 200,000 sq ft.

IBM renewed 6,25,000 sq ft of office space in Manyata Tech Park in 2020.

IBM is an American multinational technology corporation headquartered in Armonk, New York, with operations in more than 171 countries.

IBM is a multinational corporation that manufactures and sells computer hardware, middleware, and software, as well as hosting and consulting services in a variety of fields, from mainframe computers to nanotechnology. IBM is also a major research institution, having set the record for the most annual U.S. patents generated by a business for the past 28 years.

Image Source

Also read: Byju's takes up 9,500 sq ft office in Mumbai on 5 year lease

Resources

09 Mar 2026

Haworth India Hosts Women’s Leadership Panel Series

Haworth India marked International Women’s Day by hosting a leadership roundtable series titled ‘Give to Gain’, bringing together senior women leaders from architecture and design firms, corporates and project management consultancies. The series has been conducted in Delhi and Mumbai, with upcoming sessions scheduled in Bengaluru and Hyderabad on 27 March 2026. Structured as moderated panel discussions followed by audience interaction, the initiative examined the business impact of women’s leadership and the role of inclusive workplaces in supporting professional growth. Manish Khan..

Max Estates Secures RERA For Max One Project

Max Estates has secured RERA approval (UPRERA No.: UPRERAPRJ9759) for its Max One development around Max Towers in Sector 16B, Noida, bringing renewed progress to a project previously stalled following the insolvency of its earlier developer. Spread across around 10 acres with an estimated development potential of about 2.5 million sq ft, Max One is planned as an integrated mixed-use campus combining serviced residences, premium offices, retail spaces and a private club. The project is expected to generate total sales potential of about Rs 20 billion along with an estimated annuity rental inc..

Hindware Introduces Starc Smart Wall Mount Toilet

Hindware has introduced the Starc Smart Wall-Mount Toilet under its Hindware Italian Collection, designed to combine automation, hygiene and contemporary bathroom aesthetics. The model features automatic flushing, sensor-based seat opening and closing, and remote-controlled functions. It also includes an oscillating water spray and warm air dryer for cleaning, along with a self-cleaning nozzle designed to maintain hygiene. Additional features include adjustable heated seating, customisable water temperature and pressure settings, a foot-touch flush system and an LCD control interface. The wa..