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Gurgaon: PepsiCo to consolidate its offices on Golf Course Extension Road

PepsiCo, food and beverage giant has leased out 1,50,000 sq. ft. office space in Golf Course Extension Road, Gurgaon. The company has five offices in Gurgaon spread over an area of 70, 000 sq. ft. and plans to move its workforce from these offices to a commercial complex which will be developed by Pioneer Urban in the coming two to three years.

 

This information has been validated in an email from PepsiCo spokesperson to a correspondent of The Economic Times.

 

This deal is significant for two reasons. First, considering that there has been a slowdown of commercial office spaces within the real estate sector, this deal of 1,50,000 sq. ft. of office space is significant. Second, PepsiCo had been one of the forerunner in establishing its base in Gurgaon in the early 1990s and contributing to the development of Gurgaon as a commercial hub for MNCs. It seems that a few other companies too have made significant deals to lease out office spaces. The US banking group Goldman Sachs has recently made a similar deal of leasing out 1,600,000 sq. ft. office space in Bangalore and Volkswagen. The German auto giant has also taken on lease an office space of over 100,00 sq ft of office space in the Andheri to shift its office from Bandra Kurla Complex.

About Sanjit Sharma

Sr. Online Marketing Executive with Favista Real Estate Pvt. Ltd.
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