Bengaluru: Airbnb World Functionality Heart Pvt Ltd has taken up 46,437 sq ft of workplace area on lease at DLF Cyber City in Gurugram, because the demand for premium actual property by GCCs proceed to be strong in India.
Airbnb can pay a month-to-month hire of round ₹61.53 lakh for a five-year tenure, with a 5% hire escalation yearly, as per the lease doc accessed by Propstack, an actual property information platform.
The corporate has additionally paid a deposit of ₹5.54 crore for the workplace area on the twenty first flooring (Tower A) in one of many nation’s most outstanding premium company and knowledge expertise hubs.
“Airbnb’s growth at DLF Cyber City displays the unbelievable momentum we’re witnessing in India’s industrial actual property market,” mentioned Raja Seetharaman, co-founder Propstack. “World Functionality Facilities (GCCs) have moved past easy back-offices to turn out to be the first engine driving premium institutional leasing. Tech leaders committing to long-term, high-value leases at over ₹130 per sq ft proves that the urge for food for top-tier grade-A infrastructure stays extremely strong.”
Airbnb and DLF did not reply to queries until press time.
GCCs led workplace area leasing in the January-March interval, clocking a document 9.1 million sq ft and contributing 44% of total absorption of 20.7 million sq ft, property advisory CBRE India mentioned in April. Demand remained concentrated in key hubs like Bengaluru, Delhi-Nationwide Capital Area, and Mumbai, whereas being pushed largely by Fortune 500 corporations and U.S-based firms.
A transparent desire for green-certified, high-quality belongings and the rise of mid-market and nano GCCs spotlight the market’s evolving, innovation-led progress trajectory, CBRE mentioned.
“The constant desire for green-certified, amenity-rich places alerts that the ‘flight to high quality’ is now not a pattern however a baseline expectation. As occupiers undertake AI-ready workspace methods and GCCs evolve into multi-functional innovation hubs, we anticipate leasing momentum to stay wholesome by 2026,” mentioned Ram Chandnani, managing director, leasing providers, India, CBRE.
As per a current PTI report, Airbnb CEO Brian Chesky mentioned the corporate will proceed to take a position and play the “lengthy recreation” in India, one of many fastest-growing international markets that’s pushed by rising center class and travel-hungry Gen Z.
In step with its long-term imaginative and prescient for the Indian market, the corporate has continued investments in the area to cater to a rising base of home travellers, the report added.
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