India’s largest e-commerce venture Flipkart has completed a large office lease transaction where it has signed for 2 million square feet office space in Bangalore which can house over 20,000 employees, according to separate reports in The Economic Times and CNBC.
Property consultancy firm JLL advised in the deal, being touted as the largest such commercial office property deal in the country.
An email sent to Flipkart elicited no response.
The property is located on the Outer Ring Road in Bangalore and is jointly owned by US-based private equity firm Blackstone and local builder Embassy Group.
The company is expected to move all its operations in Bangalore to this one location. It currently has a 5 lakh square feet office in south Bangalore, 106,000 square feet in Mantri Commercio, 37,674 square feet in Salarpuria Tech Point and 9,000 square feet in Brigade Court, as per the ET report.
Flipkart, which raised $1.9 billion last year alone, currently has over 33,000 employees and 30 million registered users clocking over 10 million daily visits. The company also claims to be enabling 8 million shipments every month.
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