Apple has rented 4 lakh square feet of commercial office space in Bengaluru’s central business district (CBD), making it the company’s largest real estate deal in India.
The iPhone-maker has leased office space at Prestige Estates’ Minsk Square building for Rs 170 per square foot, which translates to Rs 82 crore annually, according to a report by The Times of India.
Moneycontrol could not independently verify the story.
Apple and Prestige did not comment when contacted by The Times of India.
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Apple might vacate its office space at RMZ, which is in the northern part of Bengaluru, and consolidate its operations in the CBD, sources told the paper.
The new Bengaluru office space will have a large technology centre that can accommodate 4,000 employees, but this number might be reduced amid the COVID-19 pandemic.
The move comes shortly after Apple launched its online store in India on September 23. The company is also planning to open its first brick-and-mortar store in the country in 2021.
Through its manufacturing partners Foxconn and Wistron, Apple currently assembles the iPhone XR, iPhone SE (2020) and the iPhone 11 in India.