Cupertino’s Apple is in early talks phase with the Telangana government to set up a new technology development facility in Hyderabad which would employ nearly 2,500 people.
According to an Economic Times report, Apple has been discussing leasing around 2.5 lakh square feet of office space at the outskirts of the city with real-estate company Tishman Speyer.
The company, which has been growing its engagements in India, had recently also applied for single-brand retail licence in the country.”Apple has evinced interest to lease the space at Tishman Speyer’s WaveRock facility for ten years to begin with, involving a total expenditure of around Rs 150 crore,” ET tech quoted a property consultant privy to the development as saying.
“Apple may at a later date consider asking the Telangana government to allot space for it to build its own campus,” the consultant added.
While the consultant was enthusiastic and positive about Apple’s plans, Telangana’s IT minister K Taraka Rama Rao said that it was too early to comment on the matter. Apple too declined to comment on the matter.
The move assumes significance as India’s consumer technology market is at an inflexion point. Also, a senior Telangana bureaucrat said that Apple was interested in launching IT operations n Hyderabad but also at the same time iterated that it was at the evaluation stages.
“Representatives of Apple have met the officials of the industry and commerce ministry recently, evincing interest to lease nearly 2.5 lakh square feet of office space in the Telangana Industrial Infrastructure Development Corporation promoted IT ITes SEZ with Tishman Speyer,” the bureaucrat was quoted as saying to Economic Times.
The report also confirmed Apple’s plans from sources at the development commissioner for the SEZ. “The Apple team made a presentation on January 12 on their proposed investment plans. They are slated to meet the SEZ officials during the second week of February to take the matter forward,” ET tech quoted a source as saying.
“Tishman Speyer’s WaveRock IT-ITeS special economic zone, which is located near the financial district in Hyderabad’s’ Gachibouli, has a built-up area of around 25 lakh square feet and can accommodate over 20,000 professionals in all,” said the property consultant. Tishman Speyer has around 65 lakh square feet of office facility in Hyderabad.