Apple has signed a ten-year lease for about 1.16 lakh square feet of commercial space in Bengaluru, India. Apple’s decision to lease a large commercial space in Bengaluru is part of its strategy to grow its operations in India and set up a global capability center in the country. The rented space, according to reports, is in the Prestige Tech Park II building in Marathahalli, Bengaluru. Prestige Group, a well-known Indian real estate developer, owns the property where Apple is renting space in Bengaluru.
According to reports, Apple would pay a monthly rent of Rs 2.43 crore, which is almost $327,000 in USD. The leased facility will be utilized to construct a global competence center that will deliver software engineering and development services to Apple’s global clients. Apple is expanding its operations in India, one of the world’s fastest-growing smartphone markets, and the new global capabilities center in Bengaluru will act as a hub for this growth.
In recent years, the corporation has made significant investments in India, including the establishment of an iPhone manufacturing unit in Karnataka. The move comes at a time when India is attempting to attract more international investment and establish itself as a technology hub. The country has been working to improve its infrastructure and ease of doing business, as well as launching a number of measures to foster digital innovation and entrepreneurship.
Apple is expected to improve its position in the Indian market and tap into the country’s burgeoning pool of qualified tech talent with the recently leased facility in Bengaluru. The decision is also expected to enhance India’s tech sector by creating new employment and chances for local enterprises. Overall, the move demonstrates Apple’s commitment to expanding its operations in India and capitalizing on the country’s potential as a center of technological innovation and development.
It also demonstrates India’s growing relevance as a global IT destination, as well as its potential to attract more foreign investment in the coming years.
