ANZ Bengaluru leases six lakh sq ft from Embassy Group in Bengaluru

June 23, 2022

ANZ Bengaluru leases six lakh sq ft from Embassy Group in BengaluruNEW DELHI: ANZ Bengaluru Service Centre (ANZ Bengaluru), an existing occupier at Embassy Manyata Business Park (Embassy Manyata) since 2008, has expanded its footprint with the signing of 6,00,000 sq ft at Building M3, said Embassy Group.

The new facility, currently under construction, is designed to accommodate over 6,000 employees.

Aditya Virwani, COO, Embassy Group, said, “We have seen an increasing trend of global occupiers moving forward with their real estate expansion and consolidation strategies, and we are pleased to be able to meet our occupiers’ demand for high-quality, amenity-rich, and sustainable workspaces.”

S V Venkataraman, managing director, ANZ Bengaluru, said, “With the lease for one of our current office buildings in Embassy Manyata Business Park coming to an end, for the convenience of our more than 5,000 employees combined with the expected growth of ANZ Bengaluru, we wanted to find a new office in close proximity.”

“Demand led by return to office and bullish hiring across technology, BFSI and start-up companies has fuelled office leasing across key cities. Leasing momentum is witnessing a strong acceleration and, backed by strong market fundamentals, a healthy supply pipeline and uptick in demand. Absorption levels are likely to surpass pre-pandemic levels this year. Increasingly, occupiers are focusing on sustainability, wellness and enhanced employee experience, which is translating to key developers and funds incorporating these elements into newer base building offerings. With Bengaluru stock projected to cross 200 million sq. ft. by the end of 2022, we are already seeing a whole generation of new age buildings that are built to directly contribute to occupier sustainability goals,” said Rahul Arora, head of Office Leasing Advisory India & MD – Karnataka & Kerala, JLL India.

Spread over 121 acres, Embassy Manyata has an operational area of around 12 million sq ft.

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