Property News

Facebook expands workplace area with a new lease, renewals in Mumbai’s BKC

Social networking foremost Facebook has picked up 90,000 sq toes workplace area at business tower One BKC in Mumbai’s enterprise district Bandra-Kurla Complex (BKC) via renewal and new hire agreements with Blackstone Group, countless folks with direct information of the development, said.

The workplace area is being elevated whilst the business enterprise is planning a cautious return-to-offices for its employees. Several giant organizations are increasing workplace areas to make social distancing adjustments.

Facebook, which has over 330 million lively users in India, had firstly leased over 20,000 sq toes in this tower in 2015 to set up its company office.

Following this, the organization has been leasing extra area in this workplace constructing managed to utilize Blackstone Group-entity Nucleus Office Parks.

Interestingly, Facebook has renewed its current agreements and leased new houses at over Rs 320 per sq toes as towards formerly leases of around Rs 275 per sq ft.

“Both the offers inclusive of addition of new area and renewal have been concluded over the final few days and the offers have already been registered,” stated one of the folks noted above.

This tackle is one of Facebook’s company places of work in India and its FB Creator Studio is additionally housed here. FB Creator Studio is the spine of all enterprise monetisation at Facebook. The pinnacle management, operations and ideation crew sit at this workplace in One BKC in Mumbai.

“We are certainly embarking on an effort to appreciably make bigger our places of work in Mumbai and NCR/Gurgaon. Our dedication to India is for a lengthy period and the workplace growth is in line with all the interesting work that is going on throughout our merchandise in India. These areas are being multiplied even as we layout a cautious return to our workplaces in line with Facebook’s world return-to-work guidelines, Indian government’s regulations, and the evolving neighbourhood environment,” stated a Facebook spokesperson.

Nucleus Office Parks declined to remark for the story.

In one of the greatest industrial property deals, Blackstone Group obtained a 7 lakh sq feet workplace house that is a phase One BKC venture for Rs 2,500 crore from Radius Group in 2019.

In addition to shopping for out One BKC’s complete A wing with 6.50 lakh sq ft, Blackstone additionally received an extra 50,000 sq feet in the B wing of the project.

While the developer had leased the complete A-wing, it had strata-sold B and C wings earlier. The whole venture has 1.5 million sq toes workplace space.

Facebook’s current and extra workplace area is in the A wing of the project. The workplace block already counts Bank of America, Trafigura Group, Amazon, Cisco and ICICI Prudential as its key tenants.

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