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Global technology companies buy office space in Bengaluru

Monday, 11 Jan 2021
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Global technology companies looking for expansion have led to record office space absorption in Bengaluru, Karnataka, in Q3-Q4 of 2020. 
The companies have entered into pre-commitment pacts with property developers, thus taking advantage of COVID-19 pandemic price correction. 
Averaging at 85-90 per sq ft per month, majority of the space abortion took place along eastern part of Bengaluru on the Outer Ring Road (ORR). 
Ola has committed office spaces of 4.5 lakh sq ft, Apple of 3.5 lakh sq ft, Google 10 lakh sq ft, Amazon 13 lakh sq ft, Siemens 7.3 lakh sq ft and Continental Automotive 8.5 lakh sq ft in the city. 
The residential market recorded home sales of 11,402 units in H2/2020 and 23,576 units in 2020 in Bengaluru. The city reported new launches of 9,123 home units in H2/2020 and 19,929 home units in 2020. 
South Bengaluru saw the highest quantum of homes sold with 3,860 units, followed by East Bengaluru with 3,750 units in H2 2020.


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