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

02 Jun 2026

VECV Sales Rise 7.8 Per Cent In May 2026

VE Commercial Vehicles recorded sales of 7,978 units in May 2026, compared to 7,401 units in May 2025, registering growth of 7.8 per cent. This included 7,789 units from the Eicher brand and 189 units from the Volvo brand.Eicher branded trucks and buses reported sales of 7,789 units during the month, up 7.3 per cent from 7,258 units a year earlier. In the domestic commercial vehicle market, Eicher sales rose 9.1 per cent to 7,375 units from 6,758 units in May 2025.Exports declined 17.2 per cent to 414 units from 500 units in the corresponding month last year. Volvo Trucks and Volvo Buses recor..

Table Space Strengthens DESYN Leadership Team

Table Space has announced strategic leadership appointments within DESYN, its integrated Design and Build business, as it looks to strengthen operations across key enterprise and GCC markets in India. DESYN was launched as a strategic extension of Table Space’s workspace solutions portfolio to meet rising demand for agile, high-quality and rapidly deployable enterprise workspaces.Shruti Ookabhoy has joined DESYN as Executive Director and will lead the Design vertical, focusing on design capability, operational excellence and team development across markets. She brings over 22 years of experi..

Concord Associate Bags Rs 2.79 Bn Kavach Order

Concord Control Systems said its associate company, Progota India, has received a Rs 2.79 bn domestic order from Indian Railways for the supply, installation, testing and commissioning of on-board Kavach 4.0 loco equipment.The order is scheduled for execution within 12 months and strengthens Concord’s role in India’s railway safety and signalling ecosystem. Kavach is India’s indigenous automatic train protection system, designed to improve operational safety by helping prevent signal passing at danger and reducing collision risks.Gaurav Lath, Joint Managing Director, Concord Control Syst..