IBM and HP, which are head-to-head in employing more than 30,000 people in India, have reportedly taken large amount of space in the city.
In addition to this, Cisco is also ramping up aggressively as indicated by its CEO John Chambers who was in Bangalore recently. All these IT companies have taken office space in eastern and northern parts of the city.
According to people familiar with realty business, IBM has taken 1 million (10 lakh) square feet at Manyata Tech Park in north Bangalore, HP has taken 3.65 lakh square feet at Bagmane Tech Park in eastern part and Cisco has taken 1.4 million (14 lakh) square feet of space on Outer Ring Road.
According to Ram T Chandnani, head south India operations of CB Richard Ellis South Asia, November and December months have seen hectic activity in the commercial office space market across Bangalore.
This is the time span where companies that have received approvals for space take-up in the year finalise transactions for their office space.
Other prominent office space takers in the city include First Indian Corp taking 1.28 lakh square feet at Bagmane Tech Park, Interwoven 28,000 square feet at Prestige Towers.
Other notable transactions for the quarter include Verisign taking up 94,000 square feet in Koramangala. efi signed up for 1.3 lakh square feet on the Outer Ring Road.
Qwest Communications leased out 60,000 square feet also on the Outer Ring Road. ONGC leased out 12,000 square feet on Cunningham Road and Airtel took up 14,000 square feet in Indiranagar.
