Apple Expands in India with Major Real Estate Leases in Mumbai and Bengaluru
Bengaluru: Apple Inc is expanding its India presence, having leased several office and retail store spaces across Mumbai and Bengaluru over the last two years, underscoring the country's growing importance as both a consumption hub and manufacturing base for the iPhone maker.
According to lease documents reviewed by ET, Apple and its partners have leased or committed to leasing almost a million square feet of prime real estate in marquee business districts and shopping centres since 2023. These include large-format office campuses in Bengaluru, premium mall stores in Mumbai, and the renewal of existing deals.
Bengaluru has emerged as Apple's largest operational hub outside its headquarters at Cupertino, California. The southern city has witnessed a flurry of leasing activity by Apple over the past two years. In the latest deal, the company last month leased 268,737 sq ft at Embassy Zenith on Sankey Road in North Bengaluru for office operations, with a lock-in period of 10 years.
In March this year, it took up 11,000 sq ft for a new Apple Store at Phoenix Mall of Asia at Hebbal in North Bengaluru. Its largest transaction came in 2023, when Apple signed a long-term lease for over 410,000 sq ft at Prestige Mink Square, Cubbon Road in the central business district, making it one of the city's biggest corporate occupancies at a single location.
In Mumbai, it leased 18,023 sq ft at Borivali's Oberoi Skycity Mall this May, marking its retail push into suburban consumption markets. In December 2024, the company had signed up 6,520 sq ft at Maker Maxity 5 at the Bandra Kurla Complex (BKC).
Apple did not reply to an email seeking comment. However, the company's significant investments in India reflect its commitment to the region, both in terms of consumer markets and manufacturing capabilities. The expansion is expected to create numerous jobs and boost the local economy, while also enhancing Apple's ability to serve the growing Indian market.
