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 Transport

30 May 2026

Chembur Metro to Boost East Mumbai Links

MMRDA is advancing eastern Mumbai’s urban mobility network, with the upcoming Chembur Metro Station set to emerge as a key interchange and the Mumbai Monorail preparing for relaunch.Dr Sanjay Mukherjee, Metropolitan Commissioner, MMRDA, conducted a site visit to Chembur Metro Station along with Kanhuraj Bagate, Managing Director, MMMOCL. He also visited the nearby VN Purav Monorail Station to review system preparedness and ease of interconnectivity.Once operational, the interchange is expected to offer commuters across the eastern suburbs quicker access, smoother transfers and seamless conne..

Herrenknecht TBMs Drive Thane–Borivali Tunnel Progress

Herrenknecht India has supplied two of the four tunnel boring machines (TBMs) required for the 11-km Thane–Borivali Twin Tunnel Project being developed by the Mumbai Metropolitan Region Development Authority (MMRDA). The project is expected to reduce travel time between Thane and Borivali from 60–90 minutes to around 15 minutes while easing congestion across the Mumbai Metropolitan Region.The first two Single Shield TBMs, named Nayak and Arjuna, feature 13.34-m cutterhead diameters and are designed for hard-rock excavation. They will be deployed to tunnel through the challenging geological..

KBL Launches Smart Skid Mounted Fire Pump Set

Kirloskar Brothers (KBL) has launched its Smart Skid Mounted Fire Pump Set, an integrated fire protection solution designed to improve operational efficiency, remote monitoring and installation flexibility. The system was inaugurated by Ms Madhuritai Misal, Hon. Minister of State for Urban Development, Government of Maharashtra.The Smart Skid Mounted Fire Pump Set is a factory-tested, pre-packaged solution that combines FM/UL-certified motor and engine pump sets with IoT-enabled remote monitoring. Designed to deliver a flow rate of 170 m³/hr at a head of 100 metres, the system aims to provide..