Boston Scientific Secures 1.3 Lakh Sq Ft Office Space in Pune’s Wakad

MUMBAI: Global medical technology major Boston Scientific has leased over 1.3 lakh sq ft of office space in Pune through a long-term lease spanning nearly 9.5 years. This significant move is aimed at setting up its global capability centre (GCC), contributing to the steady demand from multinational firms for large office campuses in key technology hubs.

Boston Scientific Technology and Engineering Services has secured 130,682 sq ft across the sixth and seventh floors of Eon West LP II, Tower D, located in Wakad, Pune. The lease agreement also includes a hard option to lease the eighth floor of the building until March 2027, signaling potential future expansion plans.

The office premises have been leased from Wakad Realty Pvt Ltd under a fresh lease agreement that commenced on April 1, as shown in documents accessed through Propstack, a realty data analytics platform. The company will pay a monthly rental of around Rs 86.58 lakh at a rental rate of Rs 66.25 per sq ft per month. The agreement spans 9.5 years and includes a rental escalation clause of 15% every three years. As part of the transaction, Boston Scientific has deposited a security amount of around Rs 3.90 crore.

Pune has seen robust leasing activity from global capability centres, engineering firms, and technology companies due to relatively lower occupancy costs compared to cities like Bengaluru, Hyderabad, and Mumbai. The availability of large-format office developments has further enhanced its appeal. Micro-markets such as Wakad, Hinjewadi, and Baner remain preferred locations for occupiers looking to establish large back-office, research, and engineering operations in Pune.

Global capability centres have emerged as one of the biggest demand drivers in India’s office property market over the past few years. Multinational companies are expanding their engineering, research, technology, and support operations across major cities. Boston Scientific is among several multinational healthcare and technology-focused companies that have been increasing their India office footprint to support global operations and engineering functions.

India’s office market has shown resilience despite global economic uncertainty, with multinational occupiers continuing to anchor large leasing transactions across major cities. The demand has increasingly shifted towards high-quality campus-style developments that offer scalability and long-term expansion flexibility.

Industry experts expect GCC-led absorption to remain a key growth driver in 2026, particularly in cities that offer a balance of talent availability, infrastructure, and relatively competitive rentals compared to larger gateway markets.