Apple India Pvt Ltd has finalized a significant commercial lease with Embassy Group for office space in Bengaluru, marking one of the largest occupier transactions in recent years. The agreement covers approximately 2.7 lakh sq ft at Embassy Zenith on Sankey Road, with a rental commitment exceeding ₹1,000 crore over a 10-year period.
Documents accessed through Propstack show that Apple will occupy nine consecutive floors of the Embassy Zenith tower, from the 5th to the 13th level. The space includes a carpet area of 1.96 lakh sq ft and a chargeable area of 2.68 lakh sq ft. The monthly rent payable is around ₹6.31 crore, translating to nearly ₹235 per sq ft per month, setting a benchmark for office leasing rates in the Bengaluru central business district.
The deal includes 362 car parking slots, a security deposit of ₹31.57 crore, and an annual rent escalation clause of 4.5%. Apple has also secured an option to lease an additional 1.21 lakh sq ft across the lower floors (ground to 4th) if required during the lease tenure.
Over the 10-year term, the cumulative rental and associated charges, including parking and common area maintenance, amount to about ₹1,010 crore.
The leased office is part of Embassy Zenith, a project developed by Embassy Group on a 2.3-acre parcel formerly occupied by the Le Meridien hotel. The tower comprises two basements, a ground floor, and 13 upper floors, with views of Bangalore Golf Club and Cubbon Park. Embassy Group acquired the land parcel and redeveloped it into a Grade A commercial property, targeting global occupiers.
Apple’s leasing decision places it alongside other large multinationals that have established their India operations in Bengaluru’s premium business corridors.
This lease represents Apple’s largest single office commitment in India to date, expected to accommodate over 1,200 employees. It follows a series of expansions in both office and retail real estate:
- In May 2025, Apple India leased 7,997.8 sq ft in the Phoenix Mall of Asia, North Bengaluru, at an annual rent of ₹2.09 crore for a 10-year period. That lease included a revenue-sharing arrangement linked to store sales.
- In 2023, Apple leased space in Prestige Minsk Square, Cubbon Road, also for a 10-year term, at a starting monthly rent of ₹2.44 crore.
The Embassy Zenith lease consolidates Apple’s presence in the city’s commercial core while aligning with its manufacturing growth in Karnataka.
Apple’s office space expansion coincides with the ramp-up of its supply chain operations in India. Taiwanese partner Foxconn has recently commenced iPhone 17 production at its Devanahalli facility, a plant developed with an investment of approximately ₹25,000 crore ($2.8 billion). This is Foxconn’s second-largest manufacturing unit globally, outside China.
Industry experts note that Apple’s long-term lease in Bengaluru is strategically aligned with the scaling up of its India-based production and supply chain. It signals the company’s intent to deepen its engineering, design, and operational footprint in parallel with hardware manufacturing.
According to market observers, Apple’s commitment at Embassy Zenith sets a new benchmark for leasing rates in the city’s CBD. The deal highlights the continued demand for premium office properties despite global concerns around cost optimization and flexible workspace models.
Raja Seetharaman, Co-Founder of Propstack, commented that Apple’s 10-year lease underlines confidence in the Indian market and complements its production-linked expansion. He added that this integration of real estate, workforce, and supply chain strengthens India’s role in Apple’s global strategy.
The transaction adds to the record leasing momentum in Bengaluru. Data from the first half of 2025 showed 18.2 million sq ft of gross office absorption in the city, the highest among the top eight Indian metros. The technology sector, global capability centers (GCCs), and electronics manufacturers have been major drivers of this activity.
Embassy Group, one of India’s leading developers of commercial space, has consistently attracted global occupiers, aided by its established portfolio of office parks and central business district properties.
.With its manufacturing ecosystem expanding in Karnataka through Foxconn and related suppliers, Apple is expected to further integrate operations between production and corporate functions.
The Embassy Zenith deal also reflects the resilience of India’s Grade A office market, where premium occupier commitments remain steady despite global economic volatility. Bengaluru, in particular, continues to attract multinational corporations seeking large, high-quality workspaces supported by infrastructure and a skilled workforce.
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