Tech giants rush to snap up scarce office space

Shortage of quality office space in big Indian cities has pushed up pre-commitments or reservations of property even before it is ready, among retail and technology giants, by as much as 50% in the past six months, according to real estate consultants. IT companies like Apple, GEP Solutions, GCI and Here Solutions have made pre-commitments for grade A office space in Hyderabad, Mumbai and Bengaluru, while retailers like Amazon and Ikea are still scouting for suitable property , the consultants said.

Read more: Economic Times