US tech giant Apple has leased around 2.7 lakh sq ft of premium office space in Bengaluru for 10 years, with a total rental outlay exceeding ₹1,000 crore — making it one of the city’s largest single-tenant commercial real estate transactions.
According to Propstack lease documents, Apple has taken up the 5th to 13th floors of Embassy Zenith on Sankey Road, Vasanth Nagar, at a monthly rent of ₹6.31 crore. This is Apple’s second office in Bengaluru and among the largest such leases in the city’s commercial property market. In 2021, the company leased 1.16 lakh sq ft at Prestige Minsk Square on Cubbon Road at a monthly rent of ₹2.43 crore, with operations commencing in 2023.
Industry estimates suggest the new facility could house over 1,200 employees, covering a carpet area of 1.96 lakh sq ft and a chargeable area of 2.69 lakh sq ft. Apple has paid a security deposit of ₹31.57 crore, stamp duty of ₹1.5 crore, and agreed to a 4.5% annual rent escalation. The lease commenced on April 3, 2025, and was registered in July. The property is owned by Mac Charles (India) Ltd, part of the Embassy Group.
The expansion underscores Apple’s growing commitment to India. On its Q3 FY25 earnings call, CEO Tim Cook said he was “excited” about upcoming store launches in the country and noted that most iPhones sold in the US are now manufactured in India.
Apple is preparing to open its third retail outlet in India at Phoenix Mall of Asia in north Bengaluru. It has leased 8,000 sq ft from Sparkle One Mall Developers for 10 years at an annual rent of ₹2.09 crore. The lease was signed in November 2024, with rent payments beginning in August 2025.
The company is also exploring further expansion within Embassy Zenith. In addition, it has leased 12,600 sq ft at Oberoi Sky City Mall in Borivali, Mumbai, and another 8,000 sq ft in Batrayanpura, Bengaluru. Meanwhile, Foxconn, Apple’s key manufacturing partner, has begun iPhone 17 production at its new Devanahalli plant near Bengaluru.