Advertisement
Israel Aerospace India Services Pvt Ltd, a subsidiary of Israel Aerospace Industries (IAI), has leased a 45,277 sq ft office space in Gurugram's Intellion IT Park for a monthly rent of INR 32.14 lakh. The five-year lease, which includes a 15% rent escalation every three years, is part of IAI's strategy to expand its presence in India. This move aligns with the "Atmanirbhar Bharat" initiative, as the company plans to establish a large-scale hub for the maintenance, repair, and overhaul (MRO) of defense equipment in the Gurugram area.
Israel Aerospace India Services Pvt Ltd, a subsidiary of the state-owned aerospace manufacturer Israel Aerospace Industries (IAI), has leased a 45,277 sq ft office space in Gurugram for a monthly rent of INR 32.14 lakh. The lease, which is for the 12th floor of Tower 1 at Intellion IT Park, is part of a larger strategy by IAI to expand its presence in India amid deepening collaboration in defense and technology between the two countries. Advertisement
The company will occupy the space under a five-year lease that began on May 5, 2025. The total rent over the 60-month tenure is estimated to be approximately INR 20.5 crore, with a 15% rent escalation every three years. The landlord for this transaction is Mikado Realtors Pvt Ltd, a Tata Group company that operates under Tata Realty and Infrastructure Ltd, and the lease rate is INR 71 per sq ft per month.
The lease agreement has also received approvals under Special Economic Zone (SEZ) norms, which allow the company to undertake IT-enabled services, including repair, maintenance, and business support, from the premises. A press statement from IAI on its website highlighted the company's commitment to expanding cooperation with India and supporting self-reliance in advanced manufacturing and technology under the "Atmanirbhar Bharat" initiative.
This is a significant move for Gurugram?s commercial real estate market, which continues to attract global firms. The city has seen strong demand for premium office space, with other large leases by companies such as Nagarro and Table Space Technologies. This trend is driven by Gurugram's connectivity, which is supported by major access routes like Golf Course Extension Road, MG Road, and Faridabad Road. This strategic move by IAI reinforces Gurugram's reputation as a key business and technology hub.
5th Jun, 2025
25th May, 2023
11th May, 2023
27th Apr, 2023
Advertisement
Facebook
Whatsapp
