Microsoft is up for Signing a 9 Year Lease Agreement with the Prestige Group for 600,000 square feet Office in Bengaluru

Microsoft

Microsoft is up to sign a nine year lease deal with the Prestige Group for a 600,000 sq. ft office space in Bengaluru, officials related to the development said “The deal is in the final stage of closure,” they said, adding that the lease would need a renovation every three years. The Redmond based technology company, which currently operates from the Embassy Golf Link in the city, is looking for some more office spaces as a part of the chief executive Satya Nadella’s plan to tap the local market and its rich engineering talent.

A spokesperson from Microsoft said “We have a large employee base in Bengaluru and they work out of different offices in the city. We regularly undertake a strategic assessment of our real estate portfolio in Bengaluru to ensure that we have the right long-term plan in place to support our business growth. We will share more details as we finalise our plans.” One of the persons quoted earlier said: “The company is looking to move its employees by the first half of this year. It is expected to merge many of its India operations and serve as a base for further expansion.”

The new campus will have the capacity to hold 6,000 employees, he said. Earlier, Microsoft was scouting for 1.1 million sq ft of space in Bengaluru for a built-to-suit campus.

The company, which currently has offices in the prime 10 locations across India, had planned to invest more $1 billion in the campus over five years. In expectation of a growth in business, numerous companies have been faithful in acquiring office space in Bengaluru, the country’s technology hub, thus reducing the pool of available space in the city.