ASCENDAS india trust ANNUAL REPORT 2014/15
5 Supply, Absorption and Vacancy trends of the City (continued)
The details of some of the leases in Bangalore from January to December 2014 are as follows:
Project
Micro-market
Lessee
Area Leased
(sq ft)
Magnolia, Kalyani Platina
Whitefield
HP
400,000
Block 5A, RMZ Ecoworld
Outer Ring Road
ANZ
394,920
Elnath Block, Prestige Exora
Outer Ring Road
Juniper
350,000
Aviator, ITPB SEZ
Whitefield
ACS
350,000
Velocity, Prestige Technology Park II
Outer Ring Road
Oracle India
346,273
Block 8A, RMZ Ecoworld
Outer Ring Road
SAP
325,360
Tower ’’C’’, Global Axis Ph-2
Whitefield
TCS
300,000
Embassy Golf Links Business Park
Inner Ring Road
Goldman Sachs India
300,000
Tower ‘’B’’, Global Village Tech Park
Mysore Road
Accenture India
300,000
Prestige Technopolis
Koramangala
Accenture India
275,000
Vector Block, Prestige Tech Park III
Outer Ring Road
Aricent Technologies
256,971
Aviator, ITPB SEZ
Whitefield
Mu Sigma
250,000
Block 1, Prestige Exelsior
Outer Ring Road
SanDisk
240,000
Pardhanani Wilshire
Outer Ring Road
Flipkart
240,000
Elnath Block, Prestige Exora
Outer Ring Road
Bosch
218,279
Source: C&W Research
6 Competition Analysis – Whitefield
International Technology Park Bangalore (“ITPB”) was the first Grade A office space development in Bangalore. ITPB provides
extended warm shell space
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in its non-SEZ office space while most developments in the vicinity only offer warm shell space.
Due to the extended warm shell specification as well as the other facilities ITPB offers, it commands higher rentals as compared
to other development in the vicinity.
Whitefield’s commercial micro-market comprises a mix of build-to-suit campus and speculative developments. The success of
ITPB led to the development of many commercial buildings/projects in the micro-market. The present stock of office space
in Whitefield is approximately 28.6 million sq ft (including ITPB) and accounts for approximately 23% of the office stock
in the city. The micro-market has witnessed reduction in vacancy from 20.4% in 2013 to 16.4% in 2014. In addition, the
micro-market witnesses competition from developments in Outer Ring Road too.
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Includes air conditioning ducting, false ceiling, lighting and fire fighting systems
B
B a n g a l o r e C omm e r c i a l M a r k e t O v e r v i e w
