Oracle India Pvt Ltd will lease large office space in the Bandra Kurla Complex. The IT majorhas already signed the agreement.
Oracle India will lease office space in BKC.
MUMBAI: Oracle has signed a lease agreement for its Indian arm Oracle India Pvt Ltd. The IT major has leased large sized office space in the Bandra Kurla Complex in Mumbai. The group will lease 50,000 sq. ft. of office space.
Oracle India will have to pay Rs.340 per sq. ft. for gaining office in the BKC which is one of the most costly office spaces across India and Asia Pacific Region. The lease agreement will be for a term of nine years.
One floor will be fully leased by Oracle India. The transaction worth Rs.183.6 Cr is the largest lease transaction in FIFC. First International Financial Centre (FIFC) is a Grade-A commercial development in BKC.
Connaught Place in New Delhi and Bandra-Kurla Complex(BKC)in Mumbai have been counted among the top and most expensive office locations in the Asia-Pacific region.
Connaught Place: As offices have become hotter here, the number of street-marketers may increase.
According to Cushman & Wakefield’s annual survey titled ‘Office Space Across The World 2013′, Connaught Place in New Delhi and Bandra-Kurla Complex (BKC) in Mumbai are included among the most expensive office locations in the Asia-Pacific region. Surprisingly the list dropped Nariman Point from the top 10 list.
As per the global real estate consultant’s report, Connaught Place; where the yearly cost of office space per sq. ft. was $162, stood second in the top 10 list of the region and fourth in the worldwide list. While with $82 per sq. ft. of yearly cost, BKC ranked eighth in the list.
Meanwhile Nariman Point which was considered as one of the most expensive office locations in India was not included in the top 10 list.
Connaught Place emerged as the fourth most expensive office locations in the world. This is mainly due to the shortage of office space in the area, said Mr. Sanjay Dutt, executive MD, C&W. Continue reading →