From ET Realty
After applying for a single-brand retail licence in India, Apple is now looking at setting up its first large technology development centre and back-office operations in Hyderabad.
Apple is in talks with real estate firm Tishman Speyer for long-term lease of around 2.5 lakh sq ft of office space in the city’s outskirts, which could accommodate around 2,500 employees, sources with knowledge of the matter said.
“Apple has evinced interest to lease the space at Tishman Speyer’s WaveRock facility for a period of ten years to begin with, involving a total expenditure of around Rs 150 crore,” said a property consultant privy to the development. “Apple may at a later date consider asking the Telangana government to allot space for it to build own campus,” the consultant added.