Sumadhura Group Secures Major Leasing Deal in Bengaluru
Sumadhura Group has leased 5 lakh sq ft at its commercial building in Bengaluru, expecting to earn Rs 50 crore annually in rental income. This lease at Sumadhura Capitol Towers highlights Bengaluru’s growing demand for Grade A+ office space driven by multinational corporations establishing Global Capability Centers.
- Country:
- India
Realty powerhouse Sumadhura Group has successfully leased a substantial 5 lakh square feet of office and retail space in Bengaluru. The deal, situated at their flagship commercial tech park, Sumadhura Capitol Towers, is projected to generate an impressive Rs 50 crore annually.
This leasing movement underlines the continuous appeal of Grade A+ office real estate in Bengaluru, which remains favorable to both domestic and global businesses amid the city's robust infrastructure growth. The strong demand is primarily fueled by foreign multinational corporations setting up Global Capability Centers.
According to real estate experts Cushman & Wakefield, gross office space leasing in major Indian cities is expected to reach 90 million square feet by 2025, reflecting the region's dynamic growth trajectory. Sumadhura Group contributes significantly to this trend, with a cumulative portfolio comprising residential, commercial, warehousing, and even co-living centers.
(With inputs from agencies.)
Google News