Bosch Global Software Technologies has leased 691,320 square feet of office space in Bengaluru to grow its India operations.
The new office is at Life Science Park in Electronic City. Bosch will pay around ₹58 per sq ft in rent, with a five-year lease and an option to extend for another five years, according to documents.
This new space will accommodate about 8,000 employees and will be used for Robert Bosch’s KPO operations. The rent will increase by 5% annually, and Bosch will occupy the ground plus 10 floors in the building, which should be ready by the end of 2024, said a person familiar with the deal.
In 2022, Bosch also leased around 250,000 sq ft of office space in Hyderabad for expansion.
Bosch Global Software Technologies is a major player in the global automotive industry. It has the largest development center outside Germany for complete engineering and technology solutions, employing about 31,000 people as of last year. Bosch did not respond to ET’s request for comment.
Industry estimates show that office space leasing in Bengaluru grew by 40% year-on-year, reaching 4.7 million sq ft from January to March 2024, compared to 3.4 million sq ft in the same period last year. Key sectors driving this demand included technology, engineering, manufacturing, and automobiles.
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