In Short:
Ciena, a US networking company, has leased 135,000 square feet of office space in Gurugram’s TRIL Tower. This move comes as parts of the Special Economic Zone (SEZ) are being denotified, allowing more space for businesses. The National Capital Region saw 3.01 million square feet leased from April to June, steady from the previous quarter but down 16% from last year.
Ciena, a networking systems, services, and software company based in the United States, has secured a lease for 135,000 square feet of office space in Gurugram’s TRIL Tower, developed by Tata Realty, according to sources familiar with the matter.
Market Trends
Industry insiders have noted that a significant amount of space previously designated as part of the Special Economic Zone (SEZ) is being denotified, which is leading to the availability of new areas for corporations. One source mentioned, “Tata also has a large portfolio under SEZ and is getting it denotified.”
Confidential Details
Details regarding the rental agreement and other specific terms of the lease deal have not been disclosed by the sources.
National Capital Region Leasing Overview
In the National Capital Region (NCR), the gross leasing volume reached 3.01 million square feet during the April to June quarter. This figure reflects stability compared to the previous quarter but indicates a 16% decline from the same period last year, as reported by Cushman & Wakefield.
