Samsung R&D renews lease of Bengaluru office
Electronic sector major Samsung's Research and Development Institute India-Bangalore (SRI-B) has renewed its lease for 420,000 square feet of office space in Bengaluru with Bagmane Developers. The new lease agreement is for 5 years under which the firm will pay an annual rent of Rs 50 crore, with a 5% yearly escalation.
This stands at Rs 102 per square foot per month. SRI-B occupies the basement, ground, and ten floors, including some of the upper portion of the 11 floors in the property leased in 2019.