Tech firms buy more space, 15k jobs coming soon

Nearly 15,000 jobs will be coming soon as four leading technology and telecom firms are getting ready to expand their operations at a fast pace. Leasing deals for office space of around 15 lakh sqft in Bangalore have been signed in the past two months for Accenture, Oracle, Nokia, and Capgemini, reports Anshul Dhamija of Times of India. After using a lease extension calculator, companies were able to extend their current leases and find suitable locations for new leases to create new jobs for thousands of people. If you would like to learn about the potential dangers of leases then take a look at this article from Planet Property.

In office leasing parlance, one person is equated with an area of 100 sqft. During the downturn, companies had reduced the space allotted to an individual to around 65 sqft. Even by this revised figure, 15 lakh sqft of office space means 23,000 new jobs.

Capgemini has signed for 2.5 lakh sqft of office space at the Summit in Brigade Metropolis, a deal confirmed by M R Jaishankar, CMD, Brigade Enterprises. It is said Capgemini will have a head count of a little over 2,000 people at the facility, most as new recruits. According to Realty sources, Oracle has inked a 3.5 lakh sqft leasing deal at Kalyani Magnum in J P Nagar.

IT major Accenture also said to have signed up for 1.3 lakh sqft of office space at Pritech Park on Marathalli-Sarjapur Outer Ring Road, with a mandate to absorb additional space of up to 2.2 lakh sqft. Mobile handset maker, Nokia has signed on 1.25 lakh sqft of office space at Vrindavan Tech Village on Outer Ring Road towards Sarjapur, with a mandate to expand it further to 4.5-lakh sqft. Both Pritech Park and Vrindavan Tech Village are SEZs.