Highlights
- Apple has leased nearly 2.7 lakh sq ft at Embassy Zenith for 10 years, marking one of its largest office deals in India.
- The lease includes ₹6.31 crore monthly rent, 362 parking slots and a 4.5% annual rent escalation.
- Foxconn has started manufacturing the iPhone 17 at its new ₹25,000 crore facility in Bengaluru, now its second-largest iPhone production site outside China.
(Photo by Jimmy Jin on Unsplash)
Apple India has signed one of its biggest office lease deals in Bengaluru, making headlines in the Indian tech and business news pages.
The Cupertino giant has taken nearly 2.7 lakh sq ft of space at the Embassy Group’s Embassy Zenith project on a 10-year lease. The move can be seen as a company push to establish India as a major global hub for iPhone manufacturing.
The agreement, valued at over ₹1,000 crore, has set a new benchmark in Bengaluru’s commercial property market with monthly rental rates pegged at ₹235 per sq ft. Here’s everything we know about the development based on recent media reports.
Apple Leases Land in Bengaluru
According to a Financial Express report citing lease records from Propstack, Apple will occupy floors 5 to 13 of Embassy Zenith, covering a carpet area of 196,179 sq ft, which extends to 268,737 sq ft including chargeable areas.
The iPhone maker will pay ₹6.31 crore per month in rent (₹235 per sq ft) and will also have access to 362 parking slots. The company has placed a security deposit of ₹31.57 crore with the contract including a 4.5% annual rent escalation.
The documents also reveal Apple’s plans to expand further by leasing the ground to 4th floors, adding an additional 1.21 lakh sq ft of office space. Once this expansion is completed, Apple’s total footprint at Embassy Zenith will be close to 4 lakh sq ft, making it one of the largest corporate occupancies in Bengaluru.
iPhone 17 Series Production in India
Alongside this expansion, Apple’s manufacturing partner Foxconn has already begun production of the upcoming iPhone 17 at its newly built Bengaluru facility.
Developed with an investment of nearly $2.8 billion (approx. ₹25,000 crore), the site is now Foxconn’s second-largest iPhone production hub outside China. This development further underlines Apple’s commitment to scaling up its manufacturing and operations in India.
FAQs
Q1. How much office space has Apple leased in Bengaluru?
Answer. Apple has leased approximately 2.7 lakh sq ft at Embassy Zenith, with plans to expand to nearly 4 lakh sq ft by adding the ground to 4th floors.
Q2. What is the value and terms of Apple’s lease agreement in Bengaluru?
Answer. The lease is valued at over ₹1,000 crore, with Apple paying ₹6.31 crore per month in rent at ₹235 per sq ft. The agreement includes a 4.5% annual rent escalation and a ₹31.57 crore security deposit.
Q3. Has iPhone 17 production started in India?
Answer. Yes, Apple’s manufacturing partner Foxconn has begun producing the iPhone 17 at its new ₹25,000 crore facility in Bengaluru, making it Foxconn’s second-largest iPhone production hub outside China.
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