Qualcomm is set to bolster its presence in the technology hub of Bengaluru with a significant expansion. The company has secured 600,000 square feet of office space at Bagmane Capital-Angkor, an established location for tech enterprises. This expansion will be executed in two phases, ultimately spanning the ground floor and 12 additional levels within the forthcoming facility. According to official documents, Qualcomm is committed to a lease term of 108 months, pointing to the company's commitment to the region and its mission to be part of the flourishing tech ecosystem in Bengaluru.
In a significant move, Qualcomm, the prominent semiconductor and software manufacturer, has secured a lease for over 600,000 square feet of office space in Bengaluru, India, marking its third major office deal in just 10 months. This strategic expansion demonstrates the company's commitment to strengthening its presence in India.
According to a lease document disclosed by Propstack, a leading data analytics firm, Qualcomm will be paying a rental rate of 795 per square foot for this long-term lease. The agreement includes escalations every three years, ensuring stability and growth potential for both the company and the property owner.
The new office space is set to be established within the Bagmane Capital-Angkor complex in Bengaluru, a prime location that serves as a major technology hub for numerous tech companies. Qualcomm's occupancy will unfold in two phases, with plans to utilize the ground floor plus 12 additional floors for a total tenure of 108 months, as detailed in the lease document.
This development follows Qualcomm's significant real estate moves in India over the past year. Late in the previous year, the company secured over 1.8 million square feet of space in a 20-story commercial tower at the K Raheja Corp's information technology park in Hyderabad. This remarkable deal represented Qualcomm's largest office setup outside of the United States, showcasing their dedication to the Indian market.
Additionally, Qualcomm also recently acquired 700,000 square feet of office space at the Ramanujan IT Park in Chennai, further solidifying its regional presence. Beyond Bengaluru, the company already maintains offices in Mumbai, Bengaluru, and Delhi, with multiple locations in Hyderabad.
Qualcomm's expanding footprint in India signals its commitment to furthering technological innovation in the region and capitalizing on the country's robust talent pool and business ecosystem. This move also underscores India's growing importance as a key global technology destination.
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