Zomato Leases Three Lakh sqft Office Space in Gurugram

Zomato has leased a 300,000-square-foot office in the Downtown Capital of Emaar India tower in Gurgaon as part of one of the largest rental offers in the National Capital Region (NCR) in recent times.

The chosen location is set up on Mehrauli-Gurgaon Road.

"The Zomato Residency is a collaboration between Emaar India and another developer. Zomato moved from its original location and the transition was facilitated by an international consultant," the businessmen said on condition of anonymity.

Neither Zomato nor Emaar India has responded to ET's email inquiries until publication. As indicated by worldwide property experts, enormous measured arrangements of 100,000 sq ft or more have overwhelmed renting action in the NCR, establishing more than 41% of the all-out office space interest in 2021.

Office space renting in India has gotten again and, notwithstanding Omicron undermining the recuperation, enormous corporates have kept on evaluating grade-A resources.

Amazon.com Inc. e-commerce company development company to lease more than 600,000 square feet of office space in its upcoming "Downtown Gurgaon" project.

According to the International Real Estate Consulting Company, Savills India, Delhi-NCR is expected to record leases of approximately 8.1 million square feet of office space in 2022 due to rapid faxing and a slow return to office staff.

The total area absorbed in 2021 will be 7.8 million square feet, up 79% from the previous year, indicating a significant recovery in office demand.

The Delhi-NCR pipelines will be approximately 5.1 million sq ft in the area by 2022. Most of the future facilities of around 4.6 million sq ft will be concentrated on Golf Course Extension Road, Noida Expressway, and the NH-8 micro-market.

Gurgaon contributed the most to rent with 63% share, followed by Noida (32%), Noida Highway (19%), and Golf Course Extensions (15%).