Apple has leased 4 lakh, or 400,000 square feet of commercial office space in the central business district of Bengaluru, India, a city of 8 million, the Times of India reports. This lease marks the biggest real estate move by Apple in India, ever.
According to the report, Apple has leased space at the Minks Square building, owned by Preistage Estates for RS170 or around $2 per square feet, totaling around $11 million per year. Apple currently has leased 50,000 square feet of office space in the northern part Bengaluru, however, it’s reported to end its lease and move operations to Minsk Square.
The new space under normal conditions would be able to accommodate around 4,000 employees, however, due to the COVID19 pandemic and social distancing actual numbers may vary. On its jobs website, Apple lists 16 total job openings for Bengaluru, none of which are retail-based, reaffirming the belief this new space will not be for retail purposes. In total across India Apple lists 48 jobs
Apple has increasingly been focused on India, just last month launching its online Apple Store with reportedly plans to launch its first physical store in Mumbai in 2021. Additionally, Apple suppliers are ramping up their presence in the country largely thanks to new government initiatives and schemes.