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

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..

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..

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..