Financial Daily from THE HINDU group of publications
Wednesday, Mar 31, 2004
Financial Daily from THE HINDU group of publications Wednesday, Mar 31, 2004 |
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Industry & Economy
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Real Estate & Construction BPO, ITES cos drive demand for commercial space in Bangalore Our Bureau
Bangalore , March 30 THERE has been a jump in commercial space rates by eight to 10 per cent driven by demand from BPO and ITES companies, according to Mr Bhaskar N. Raju, Executive Director, DivyaSree Developers (P) Ltd. He said while BPO and ITES occupied the centre stage, increasing drive towards consolidation of their premises in one facility by IT companies also gave a further push to the demand. He said the new trend of `campus option' was fast gaining acceptance in which a unique concept is designed to provide every client an independent identity on the same patch of land area, while strategically integrating each facility seamless to the whole campus. This works to the advantage of the companies in saving their overall costs on logistics, canteen facilities and above all optimising the costs on service providers. Last year, about two million sq.ft. space was built by leading developers like Embassy and DivyaSree. Big IT companies absorbed this. Thus the demand for commercial space was likely to exceed last year's built up stock, Mr Raju said. DivyaSree, which is currently developing a `work-live-play' concept in parcels of three to five-acre land in a campus in the IT corridor at Whitefield, has spread its wings to Tamil Nadu where it will be replicating the campus concept on a 4.35-acre land parcel on the IT corridor promoted by the Tamil Nadu Government. The campus at Whitefield envisages a phased programme of developing three million sq.ft of workspace in the Export Promotion Industrial Park area on a 39-acre land. It will incorporate, besides the workspace, a self-contained campus consisting of a convention centre, food courts and recreational amenities and a residential block with studio apartments facilities.
More Stories on : Real Estate & Construction | Karnataka | Outsourcing | IT-enabled Services
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