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Hyderabad: French beauty giant L’Oreal India has leased 89,628 square feet of office space at Meenakshi Eco Park in Nanakramguda, Hyderabad, in what marks a concrete step toward establishing the company’s first global Beauty Tech Hub in the city.

According to documents reviewed by RE Journal, the lease covers the third floor of the development and was registered on 4 March 2026, with effect from 1 February 2026. The agreement runs for 60 months, with a lock-in period of 36 months.

The starting monthly rent has been fixed at Rs 74 per square foot, with a 15 per cent escalation clause every three years. In addition to the leased space, L’Oreal has secured a hard option on a further 85,813 square feet at the same development, giving the company room to scale up its Hyderabad operations.

The lease comes weeks after L’Oreal announced at the World Economic Forum in Davos in January 2026 that it would invest over Rs 3,500 crore (approximately Euro 350 million) to set up a global Beauty Tech Hub in Hyderabad. The hub, announced in partnership with the Telangana government, is positioned as a flagship centre for artificial intelligence, data, and digital innovation.

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L’Oreal CEO Nicolas Hieronimus described it as a “landmark” collaboration and said the facility would sit “at the heart” of the company’s AI and digital ambitions globally.

The centre is expected to generate around 2,000 highly skilled jobs, including AI specialists, tech engineers, and data scientists, by 2030, and will be operational by November 2026. It will join L’Oreal’s existing network of tech hubs across France, the United States, China, Singapore, Spain, Poland, Canada, Brazil, and Mexico.

Nanakramguda, part of Hyderabad’s Financial District, has emerged as a preferred destination for global capability centres and multinational firms, with companies such as TCS, Wipro, ICICI, Broadridge, and Infosys among those based in the area.

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