Cupertino’s Apple is in early talks phase with the Telangana government to set up a new technology development facility in Hyderabad.it would be providing employ oppertunity nearly 2,500 people.
The most top Admiring Brand APPLE most famous to Produce Iphones.
After applying for single-brand retail licence in India, Apple is now looking at setting up its first large technology development centre and back-office operations in Hyderabad.
The US-based company is in talks with real estate firm Tishman Speyer for long term lease of around 2.5 lakh square feet of office space on the city outskirts, which could accommodate around 2,500 employees, multiple sources with knowledge of the matter said.
“Apple has evinced interest to lease the space at Tishman Speyer’s WaveRock facility for ten years to begin with, involving a total expenditure of around Rs 150 crore,” said a property consultant privy to the development.
“Apple may at a later date consider asking the Telangana government to allot space for it to build its own campus,” the consultant added.
“Too early to comment,” said Telangana’s IT & Panchayat Raj Minister K Taraka Rama Rao. Emails to Apple, which opened Europe’s first iOS App Development Centre in Italy, were unanswered.
India has of late emerged a crucial market for the world’s largest tech firm by market cap, which saw its sales crossing the $1 billion (Rs 6,800 crore) mark in India for the first time last fiscal year.
The move by the iconic maker of iPhones to set up its technology development centre in India assumes significance at a time when the Indian market is at an inflexion point for Apple’s product offering, which includes smartphones, laptops, smart watches and music players.
A senior Telangana bureaucrat confirmed the interest of Apple to locate its IT operations in Hyderabad, but downplayed the matter saying the talks were at an early stage. “Representatives of Apple have met the officials of the industry and commerce ministry recently, evincing interest to lease nearly 2.5 lakh square feet of office space in the Telangana Industrial Infrastructure Development Corporation promoted IT ITes SEZ with Tishman Speyer,” the bureaucrat told ET, requesting anonymity given the sensitivities involved.
Sources at the development commissioner for the SEZ also confirmed the talks with Apple. “The Apple team made a presentation on January 12 on their proposed investment plans. They are slated to meet the SEZ officials during the second week of February to take the matter forward,” said a person in know of the development.
“Tishman Speyer’s WaveRock IT-ITeS special economic zone, which is located near the financial district in Hyderabad’s’ Gachibouli, has a built-up area of around 25 lakh square feet and can accommodate over 20,000 professionals in all,” said the property consultant.
Tishman Speyer has around 65 lakh square feet of office facility in Hyderabad. Pointing out to the millions of jobs that Apple’s ecosystem created across the globe, the Telangana bureaucrat said: “We hope the entry of Apple into Hyderabad would help attract dozens of technology companies into the ecosystem, creating thousands of jobs and sizeable investments.”