Samsung Renews Bengaluru Office Lease for 420,000 Sq Ft

10 Jul 2024 CW Team

Samsung Research and Development Institute India-Bangalore (SRI-B) has renewed its lease for 420,000 square feet of office space in Bengaluru. The lease, inked with Bagmane Developers, spans five years and includes a lock-in period until April 2027.

According to a lease renewal deed shared by analytics firm Propstack, SRI-B will pay an annual rent of ?500 million, with a 5% yearly escalation. This translates to a monthly rent of ?102 per square foot. The renewed lease, which commenced in June, covers the basement, ground, and ten floors, along with parts of the eleventh floor of the property initially leased in 2019, which expired in April 2024.

Despite a global increase in vacancy rates for Grade A office spaces, India is experiencing the opposite trend. Raja Seetharaman, co-founder of Propstack, attributes this to growth in the GCC, BFSI, and flexible office sectors. He noted that Bengaluru is witnessing numerous large transactions, echoing a trend of high-value deals in Indian cities like Mumbai.

SRI-B, Samsung's largest R&D center outside South Korea, plays a crucial role in driving innovation. It focuses on enhancing global flagship devices through advancements in multimedia, AI, and the Internet of Things, while also addressing the needs of Indian consumers. Earlier this year, Samsung Semiconductor India Research (SSIR) secured a 160,000-square-foot R&D facility in Bengaluru to bolster semiconductor research and development, planning to expand its workforce by over 700 individuals from its current strength of more than 4,500 employees.

Bengaluru has led office space absorption in India this year, accounting for about a quarter of total leasing from January to June 2024. This surge is followed by Delhi-NCR at 16%, Chennai at 14%, and both Pune and Hyderabad at 13%. Additionally, Bengaluru, Hyderabad, and Mumbai have led in supply additions, collectively accounting for 69% of the total office space added during the same period, according to CBRE.

Infrastructure Urban

07 Nov 2025

Welspun Enterprises Wins 910 MLD Panjrapur WTP Contract

Welspun Enterprises (WEL), the infrastructure and energy arm of Welspun World, has secured a major contract from the Brihanmumbai Municipal Corporation (BMC) to design, build and operate a 910 million litres per day (MLD) Water Treatment Plant (WTP) at Panjrapur, Maharashtra.Valued at approximately Rs 31.45 billion, the project encompasses end-to-end civil, mechanical, electrical and instrumentation works, including the construction of a treated water sump and pumping station. Of the total value, nearly Rs 11.56 billion is allocated to Operations & Maintenance (O&M), with an additional..

Mitsubishi Power Wins Boiler Upgrade Contract for O Mon 1 Plant

Mitsubishi Power, a power solutions brand of Mitsubishi Heavy Industries, (MHI), has been awarded a contract to support the oil-to-natural-gas fuel conversion at the O Mon 1 Thermal Power Plant in Can Tho, southern Vietnam. As the OEM of the plant’s existing boiler, Mitsubishi Power will supply key equipment—including new gas burners—and implement a selective catalytic reduction (SCR) system to reduce NOx emissions and help the plant meet stricter environmental standards.The O Mon 1 facility includes two 330 MW units that commenced operations in 2009 and 2015, with all major equipment or..

Liebherr’s 10,000th XPower Wheel Loader Joins BERGER’s Fleet

BERGER Rohstoffe GmbH has welcomed the 10,000th Liebherr XPower wheel loader to its operations at the Schlag granite quarry in Passau. The milestone machine, officially handed over at Liebherr’s Bischofshofen plant in May 2025, underscores the long-standing partnership between BERGER, Liebherr, and the Beutlhauser Group. Equipped with Liebherr’s signature power-split travel drive, the new L 580 XPower is already delivering strong results under demanding quarry conditions.At the Schlag quarry, BERGER Rohstoffe processes approximately 200,000 tonnes of Bayerwald granite annually into high-qu..