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Amazon Development Centre India has extended its rental agreement for around 500,000 square feet of office space in Chennai. According to Propstack, an analytics company, Amazon has agreed to rent space from Airoli ITP Development for a period of 36 months within Global Infocity Perungudi.
Amazon has chosen to extend its leases without making use of its difficult options in various locations. Earlier this year, all four renewals, which collectively measure 500,000 square feet, were recorded. Amazon has recently signed two significant renewals, and this latest renewal comes just after those. The American company has extended a lease on a 650,000-square-foot area located on the outskirts of Bengaluru, which will continue to be utilized as a centre for business development purposes.
The company has procured approximately 600,000 sq. ft and 800,000 sq. ft of area in Gurgaon and Hyderabad, respectively. These spaces will be utilized for web-based services, development centres, vendor services, and transportation operations. This recent agreement is the most important renewal of an office lease this year, as companies are becoming more prudent in their growth strategies and favouring adaptable work environments rather than rapid expansion.
The core of the global e-commerce retailer is formed by the software development and engineering services provided by Amazon Development Centres. Amazon has a diverse range of business ventures in India, which include Amazon Web Services, Amazon Business, Amazon Marketplace, and Amazon Development Centres.
Although Amazon is downsizing globally and letting go of employees in India, it is simultaneously making significant investments in the country, recognizing it as a crucial market. Amazon Web Services has disclosed its biggest investment to date, a staggering $13 billion, to establish a cloud infrastructure in India. In the last ten years, it has invested a considerable amount of $6.5 billion in developing its online business within the country.
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