US-based multinational semiconductor company Advanced Micro Devices (AMD) has leased around 500,000 sq ft office space in Prestige Group’s commercial property in Bengaluru, Prestige Technostar, in one of the largest office deals in the southern market in 2022.
AMD will use the new office space to expand its operations in the city. The office is expected to be operational by the end of this year. The company signed a 10-year lease. AMD will pay rent of around Rs 31.5 crore annually, mentioned a lease deed shared by Propstack.
Prestige Group is looking to strengthen its commercial portfolio across major cities and has 43 million sq ft of ongoing and upcoming projects planned across markets like Pune, Bengaluru and Hyderabad. The firm has leased over 1.5 million sq ft of office space since the beginning of this year to edtech and technology firms like HP and Byju’s that closed earlier this year
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