Amazon in talks to lease over 600,000 sq. ft. of space at its upcoming project ‘Downtown Gurgaon‘

Ecommerce giant Amazon.com is in talks with realty developer DLF to take on lease over 600,000 sq. ft. of office space at its upcoming project ‘Downtown Gurgaon’ a few people aware of the development said.

During its Q2 analysts call in October, DLF had said it will soon start construction work on 2 million sq. ft. of office space in Gurgaon as it sees rising demand for grade office buildings in the coming year.

DLF’s two towers in Downtown Gurgaon, each with 1.25 million sq. ft. of office space, are nearing completion. While one is nearly fully leased, the company has signed a non-binding agreement for about 95% of the second tower.

“DLF Downtown is at prime location on National Highway 8, and despite being a under construction project, it has received interest from large corporates,” stated considered one of individuals cited earlier. “Most of the leasing has been done before the completion of the project.”

A spokesperson for DLF stated, “We do not comment on speculation of what we may or may not do in future.” If a deal is signed, it will likely be the largest workplace space transaction of NCR in latest instances. According to worldwide property consultants, workplace space leasing in India has picked up once more, and regardless of Omicron threatening the restoration, giant corporates have continued to assess grade a belongings.

According to DLF Cyber City Developers (DCCDL), the rental arm of the company, leasing momentum has picked up in the last 6-8 weeks. DCCDL’s consolidated revenue stood at ₹1,123 crore in Q2 of FY22 compared with ₹1,040 crore in the year-ago period. The company’s renewal percentage, which used to be in the 90s, has now dropped to 85%.