Metlife Leases 2.95 Lakh Sft Office Space in Noida

Global insurance provider, MetLife has leased 2,90, 000 sqft office space in Embassy Oxygen, Noida to expand its business. The new facility that is expected to go live soon and can seat 2750. According to the market sources, the Metlife will be paying an average rental of Rs 60 per sft in Embassy Oxygen. The new facility will work as a global capacity centre for the insurance giant and will support it's US operations. Embassy Oxygen is a 3.3 mn sft office building, part of the Embassy REIT. Other tenants in the property includes Optum Global, NTT Data, GlobalLogic EXL, Sapient Consulting. Vikaash Khdloya, Deputy CEO and COO, said, "We are working on a number of new leasing enquiries and RFPs though these are likely to take couple of quarters to move to conclusion. While today’s immediate occupier focus is business continuity and employee safety, we see return of robust office demand and healthy rental growth over the coming quarters given de-densification and ever increasing need for technology supported solutions."