Wednesday, April 21, 2004

Office space boom

The addition of IT office space continues unabated in the city. A lot of the expansion is now happening in the IT Corridor (Whitefield-Sarjapur-Electronics City), Bannerghatta Road and now C V Raman Nagar. Motorola and iFlex Solutions recently opened their own campuses in C V Raman Nagar while Texas Instruments is due to move into its, soon. IGate and SAP Labs launched their campuses in Whitefield a little earlier. Intel, Hughes, Subex Systems' campuses on the Outer Ring Road in Sarjapur are nearing completion. Chennai based Cognizant Technology Solutions has announced that it will be setting up a campus in the city. Meanwhile private property developers continue to pile on ready-to-occupy office space within the city. Recently Oracle moved into two new buildings within the city, Mantri Commerce on Bannerghatta Road and Prestige Lexington Towers in Koramangala, occupying over 200,000 sq ft of space in all. Hewlett Packard has been virtually devouring office space in the city gobbling up nearly 500,000 sq ft of office space spread across Prestige Emerald on State Bank of India Road, Brigade Hulkul on Lavelle Road, Prestige Al-Kareem on Cunningham Road, Salarpuria Arena on Hosur Road and Embassy Icon on Infantry Road. Intel has expanded into Prestige Solitaire on Brunton Road. Meanwhile Embassy has launched the only campus of its kind within the city the Embassy Golf Links Business Park skirting the KGA Golf Course in Challaghatta which houses build-to-suit facilities of IBM, Microsoft, ANZ IT, Goldman Sachs, Fidelity, The Carlyle Group. Dell has moved into 500,000 sq ft of space in Divyasree Greens on the Koramangala-Indiranagar intermediate ring road. The UB Group's land at the intersection of Vittal Mallya Road and St. Mark's Road, where the High Court struck down plans to build a 15 storey building on a public interest litigation, has seen the development of the Prestige UB Plaza which has been occupied by Thomson Electronics. Macromedia, Adaptec and Trilogy have occupied Salarpuria Infinity on Bannerghatta Road while the gargantuan IBC Knowledge Park is nearing completion on the adjoining land. Storage major EMC has leased 150000 sq ft of space in Subramanya Arcade Phase II on the same road. Phase I houses the corporate headquarters of IBM India. The only player who is avoiding the overcrowded South and Eastern parts of the city is Mindtree which is establishing the Mindtree West Campus at the Global Village on Mysore Road, promoted by the V G Siddhartha (of Coffee Day fame) -promoted Global Technology Ventures-funded Tanglin Development.

Accenture has occupied the entire 150000 sq. ft. of space in the I Phase of IBC Knowledge Park while LSI Logic, Verisign and Aztec Software have also moved into Salarpuria Infinity.