IT segments buy more space, 15k jobs coming soon

Updated on: Friday, August 27, 2010

With the revival of economy several companies are creating new jobs with the pressure to expand their ventures here.
Four of the world's leading tech and telecom firms â€” Accenture, Oracle, Nokia and Capgemini â€” are expanding operations at a rapid pace, as leasing deals for office space of close to 15 lakh sqft in Bangalore have been signed in the past two months.

An estimation reveals the new space will result in creation of about 15,000 jobs. 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; global tech giant Oracle has inked a 3.5 lakh sqft leasing deal at Kalyani Magnum in J P Nagar; IT major Accenture is said to have signed up for 1.3 lakh sqft of office space at Pritech Park on Marathalli-Sarjapur Outer Ring Road; Nokia is said to have signed on 1.25 lakh sqft of office space at Vrindavan Tech Village on Outer Ring Road towards Sarjapur.

"Many MNCs are expanding their operations in SEZs as the sunset clause for STPIs is coming up by end-2011," says a senior real estate analyst.
The wave this time will not be led by the IT industry alone. Other sectors like aerospace, biotechnology, pharma, clinical research, auto design and ancillary, and manufacturing are set to share the volume.

IT segments buy more space, 15k jobs coming soon

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