Apple's big move with a 15-story Bengaluru office; here's all you need to know

Apple's Indian expansion: Apple has recently expanded its presence in India by inaugurating a new 15-story office in Bengaluru, capable of accommodating up to 1200 employees. This addition is part of Apple's growing corporate office network in key cities such as Bengaluru, Mumbai, Hyderabad, and Gurugram.

Apple's prime proximity

Situated at Minsk Square in the heart of Bengaluru, the new office is located near prominent landmarks like the parliament, high court, central library, Chinnaswamy cricket stadium, and a large green park. With proximity to the Cubbon Park metro station, the office ensures easy access to public transit for employees.

Apple's sustainable real estate model

Apple's Bengaluru office is designed with a focus on energy conservation, operating entirely on renewable energy, and aspiring to achieve a LEED Platinum rating, the highest level of Leadership in Energy and Environmental Design (LEED) certification. The interior boasts locally-sourced materials such as stone, wood, and fabric, along with the inclusion of native plants.

The company, which currently employs nearly 3,000 people in India, engages in a wide range of business activities in Bengaluru, including software development, hardware technologies, operations, customer support, and more. Apple has been carbon-neutral for its corporate operations since 2020 and has utilised 100 percent renewable energy across all facilities since 2018.

Lease of luxury

Lease documents dated January 28, 2022, reveal that Apple India Pvt Ltd leased ground plus 14 floors in the Minsk Square building from Prestige Estates Project Ltd. The total carpet area is 3.03 lakh sq ft, and the super built-up area is 4.10 lakh sq ft, with a lease tenure of 10 years. The monthly rent is Rs 195 per sq ft, resulting in a total monthly payment of Rs 7.99 crore. Additionally, car parking rent amounts to Rs 58.16 lakh per month.

Cushman & Wakefield's Market Beat report highlights that Minsk Square, situated in the Central Business District, has an average rental rate of around Rs 164 per sq ft per month. While the micro market is in demand, the availability of Grade A space is limited, contributing to the higher rentals. The report anticipates an increase in Grade A supply, with an estimated upcoming supply of around 0.7 million sq ft until 2026. Apple expressed excitement about expanding in India, emphasising the new office's role in fostering innovation, creativity, and collaboration amongst its teams.