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

06 Apr 2026

CFI Appoints New National Council for FY27 and FY28

The Construction Federation of India (CFI) has announced its newly elected National Council and office bearers for a two-year term covering FY27 and FY28. M. V. Satish, Advisor to CMD and Lead Ambassador for Middle East, L&T, has been elected President; Priti Patel, Chief Strategy & Growth Officer, Tata Projects, has been appointed Vice President; and Ajit Bhate, Managing Director, Precast India Infrastructures, has taken charge as Treasurer.The newly formed National Council brings together senior leaders from major EPC and infrastructure companies, reflecting CFI’s continued focus o..

India REIT Market Gains Momentum with Strong Returns

India’s Real Estate Investment Trust (REIT) market is witnessing strong growth, emerging as a competitive investment avenue both domestically and across Asia. According to a recent ANAROCK report released at EXCELERATE 2026 by NAREDCO Maharashtra NextGen, the sector is evolving into a mature asset class driven by solid fundamentals, regulatory backing and rising investor confidence.The introduction of Small and Medium REITs (SM REITs) in 2025 has further widened access through fractional ownership, unlocking a potential monetisation opportunity of Rs 670–710 billion. Indian REITs have deli..

G R Infraprojects Secures Rs 4,130 Million BESS Contract From NTPC

G R Infraprojects said it has secured a contract from NTPC to supply and implement a battery energy storage system (BESS) valued at Rs 4,130 million (mn). The company reported the order was awarded as part of NTPC's ongoing efforts to enhance grid flexibility and energy storage capacity. The contract represents a notable addition to the firm's project pipeline and underscores demand for utility scale storage solutions. The award is expected to strengthen G R Infraprojects' presence in the energy infrastructure sector and to contribute to the firm's order book and future revenues, subject to st..