Apple to Lease Entire Office Tower from Embassy Group in Bengaluru

Apple Inc has secured an entire office tower from the Embassy Group in Bengaluru, marking a significant development in the city’s commercial property market. The tech giant will lease over 400,000 sq ft of space on Sankey Road, paying more than ₹220 per sq ft per month, a record rate for the area

Record-Setting Lease Agreement

This agreement, formalized through a recent letter of intent (LOI), includes a 15% rental escalation every three years.

Key Highlights:

• Apple to lease over 400,000 sq ft office tower in Bengaluru.
• Lease rate set at ₹220 per sq ft per month, a record for the area.
• 15% lease rental escalation every three years.
• New office part of a 2.3-acre commercial project by Embassy Group.
• Project completion and office operational by 2025.
• Apple’s second-largest facility in Bengaluru.
• Apple's Strategic Expansion in India

Project Details and Timeline

The new office is part of a commercial project on a 2.3-acre land parcel, previously the site of the Le Meridien hotel. The project, featuring two basements, a ground floor, and 13 upper floors, will span 30,000 sq ft. This facility will be Apple's second-largest in Bengaluru and is set to be operational by 2025.

Apple's Expanding Presence in India

This new lease adds to Apple’s corporate footprint in India, which includes offices in Bengaluru, Mumbai, Hyderabad, and Gurugram. In 2021, Apple leased over 400,000 sq ft in Bengaluru with the Prestige Group for its Indian and global operations. The lease terms ensure no competition in the building from companies like Alphabet, Microsoft, Samsung, Xiaomi, and Amazon.

Boosting iPhone Production in India

Apple is strategically expanding its manufacturing operations in India, aiming to produce 25% of all iPhones in the country over the next 3-4 years. This involves setting up a robust local supplier network to reduce reliance on Chinese vendors. Currently, most iPhones in India are produced at the Sriperumbudur plant near Chennai.

Support from Key Manufacturers

To support this expansion, Apple is building supply chains with major contributions from Foxconn Technology Group and Tata Electronics. Tata Electronics will operate one of the largest iPhone manufacturing facilities in India, located near Bengaluru in Hosur.

• Apple Office Lease in Bengaluru
• Embassy Group Commercial Properties
• High Rental Rates in Bangalore
• iPhone Manufacturing in India
• Tata Electronics iPhone Production
• Foxconn Technology Group India Operations
• Apple’s Office Locations in India
• Bengaluru Real Estate Developments
• Sankey Road Commercial Projects
• Hosur Real Estate Overview