Amid the Covid-19 gloom and push for remote work, legendary automation conglomerate, Siemens has leased out a massive office space in Electronic City, Bengaluru. Siemens continues to invest in India in terms of strategic innovation and as an automation solutions provider for the Indian industrial segments.
Siemens leased out a massive facility in Gold Hill which spans around 1.6 million square foot on the prime tech hub along Hosur Main Road. The lease period spans for nine years and includes a two month rent free period. However, an increase of 8% rent after 14 months will be applicable.
The global automation leader continues to envision India as its strategic innovation hub and reposes its faith in the Indian tech workforce. The state of the art workspace will cover 530,000 square feet and will feature some innovative workspace solutions. The charges are pegged at INR 80 per square feet and the annual rent is expected to be around INR 69 crores.
The newest addition to its workspace is in close proximity to the current location of Siemens Healthineers in Electronic City, Bengaluru. Considering the new expansion, Siemens exhibited its faith in its productions and solutions innovation centers amid the Covid-19 slowdown.
Several organizations have exhibited mixed opinions about the impact of work from home on its employees. With burnout and lack of work life balance, network infrastructure, lack of team bonding being some of the primary obstacles in the current work from home situation, Siemens took a bold move to modernize and expand its workspace.
Siemens will continue to explore remote work options as it enters the financial year of 2021. However, the diversification of business and Siemens Energy spin off did not have a major impact on the investment strategies of the global automation leader atleast in the last couple of years. Siemens maintains its optimistic approach to grow and invest in emerging technologies and products.