Zomato, the food delivery app giant is in the final stage of discussion to lease 1 million sq ft in Gurugram. The sources near the development said it will add another 1 million sq ft space in a transaction.
At present, Zomato occupies over 300,000 sq ft of office space. It is developed by ASF and Pioneer group in Gurugram. The Deepinder Goyal is in discussion with the same developers about built-to-suit assets.
“The demand for Grade – A office spaces will continue to remain strong in 2025. This deal highlights the robust demand Indian corporates will generate this year,” said Peush Jain, Managing Director, – commercial leasing and advisory at real estate consultancy Anarock Group.
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“Institutional-owned and campus-sized developments are preferred, as they provide growth opportunities along with numerous common amenities for occupiers.”
Zomato leased approximately 750 seats with Smartworks which operates a 450,000 sq ft office at ASF’s Insignia Campus in Gurugram, recently.
ASF Insignia is a special economic zone, and the company plans to de-notify a few areas to lease to non-IT tenants.
Zomato looks for Single Space Office in NCR Region
In 2024, Hines, one of the top real estate investors and developers, inked an agreement with Pioneer group. According to this, 1.25 million sq ft office space along the Golf Course Extension road, Gurugram will be developed.
Presently, Zomato occupies a giant office complex in Pioneer group in the same location.
“Zomato is looking to consolidate its office space and in future wants to have a single office campus in the NCR (National Capital Region). It is exploring both options. ASF has the advantage of lower rental costs,” a person close to the development said.
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Although the ASF campus is well developed, it holds the potential to develop an extra 2 million sq ft. ASF has delivered more than 5 million sq ft of commercial real estate projects.
