The Indian Wire » Startups » Uber in talks to lease 700,000 sq ft office space in Bengaluru

Uber in talks to lease 700,000 sq ft office space in Bengaluru

Uber, an on-demand cab service provider, is likely to set up its biggest hub in India as the company is involved in discussions to lease about 700,000 sq ft office space in Bengaluru.

“The facility will help the ride-hailing app expand its product and engineering centre and map department in the city to customise solutions for the local market,” sources said.

The lease may comes out at a perfect timing since the demand for commercial real estate continues to be robust in India.

Uber India Systems, which provides support and marketing services to the cab aggregator, “will soon inspect the site and this deal is expected to close in another 2-3 months,” added the source

Uber is an American multinational transportation network company which is based-out of San Francisco. It offers services that include peer-to-peer ride sharing, ride service hailing, food delivery, and a bicycle-sharing system.

Uber India Systems had set up its engineering centre in 2016 to support its operations in India. The facility will see Uber consolidate and expand its operations in Bengaluru.

While, in the past two years, the company has leased around 300,000 sq ft office space in Outer Ring Road in the city.

“Our tech teams in India are growing very fast and this number is likely to go up by at least 50% by the year-end,” the company said.

The company currently employs more than 500 people in its two tech centres in Hyderabad and Bengaluru.

Besides, according to the data from commercial real estate consultants Cushman & Wakefield India, the total gross leasing volume in the country touched almost 13 million sq ft in the first quarter of 2019, which is 1.45 times higher than the year earlier quarter,

“India is extremely important as it is very diverse when it comes to the adoption of technology,” the company said.

Apart from Uber, there are other significant startups in the category, which includes Ola CabsLyft, CurbDidiChuxingGrab, and many more including local taxis as well.

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