Microsoft Corporation Acquires 25-Acre Land In Pune’s Pimpri-Waghere Area For Data Centre
Pune, 20th October 2022: According to two people with direct knowledge of the development, the US-based software giant Microsoft Corporation intends to build a large hyperscale data centre in Pune as part of its multi-city data centre strategy for India, the Economic Times reported.
According to the Economic Times, through an agreement with Finolex Industries to transfer the long-term lease for nearly Rs 329 crore, the company’s India arm has acquired a 25-acre land parcel in the city’s Pimpri-Waghere neighbourhood and plans to develop the data centre on this plot.
According to Money Control, Mastercard Technology leased over 400,000 square feet of space in a commercial building in Pune for 20 years in June, with monthly rent starting at Rs 4.12 crore. For the first nine months of 2022 (January-September 2022), net absorption for India’s office space reached a three-year high of 30.3 million sq ft, supported by strong supply completions and healthy pre-commitments. According to JLL’s Office Market Update-Q3, 2022, net absorption for the July-September quarter increased by 11% Q-o-Q to 9.86 million square feet. According to the report, gross leasing activity in Pune reached 3.7 million square feet in Q1-Q3, 2022, up from 2.3 million square feet in Q1-Q3, 2021.
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