Google Leases 4.5 Lakh Sq Ft Space From Simpli Work In Gurugram
Earlier this year, the firm had taken up 5,00,000 sq ft of space in Bagmane Capital.
BENGALURU | NEW DELHI: Google has signed a lease deal with flexible office space operator Simpli Work for a 4,50,000 sq ft area in Gurgaon to expand its operations, people in the know said.
“The office will have a lockin period of three-four years, opposed to over five-seven years in a conventional office building,” they said, requesting not to be named. The facility, which can seat at least 4,000 people, will become operational in 2020, they said.
US-headquartered Google is looking for more office space to be able to tap into the local market and engineering talent. It is close to signing a deal for a 1.2 million sq ft office space in Bagmane RIO in Bengaluru through a longterm lease.
Earlier this year, the firm had taken up 5,00,000 sq ft of space in Bagmane Capital. The company is also looking to expand in Hyderabad, where it occupies 4,00,000 sq ft in Knowledge Capital.
Simpli Work refused to comment. An email query sent to Google seeking confir-mation went unanswered.
“Many large companies are looking at flexible management spaces for the short term to expand, as these firms do not have to spend on capex. It is beneficial in terms of risk and timeline,” said one of the persons cited earlier. This move is expected to push up demand for flexible office spaces by six times to 35% of all office space requirement globally in the next three years, up from just about 5% now.
Currently, Google has four offices in India, including its country headquarters in Hyderabad and the recently-acquired 1,00,000 sq ft office space in the First International Financial Centre.
India is an attractive destinations for MNCs looking for high-value work and talent pool. Firms are looking at 50% conventional space on an over 10-year lease. Separately, 30% space will be on flexible model and 20% in a co-working environment, as per Knight Frank.
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