Bengaluru’s first Apple Store likely to open soon: Annual rent and more that lease agreement reveals
[ad_1] Apple has reportedly secured a retail lease for 7,997.8 square feet within North Bengaluru's upscale Phoenix Mall of Asia. The new Bengaluru location is anticipated to become Apple's third retail outlet in India, following its flagship stores in Mumbai and Delhi. This comes soon after Apple CEO Tim Cook announced that the iPhone maker will expand its retail footprint in the country. As per an agreement, revealed by leading real estate platform Propstack, the lease is for a 10-year term with an annual rent of Rs 2.09 crore. It also claims that the lease officially commenced on November 8, 2024, with rent payments set to begin on August 8, 2025. The landlord for the property is Sparkle One Mall Developers Private Limited.Bengaluru's 1st Apple store of 8,000 sft in Phoenix Mall of AsiaApple India has leased a retail space […]