Office

UK govt outlines first steps in new plan to get more people back into work

Britain is the only major economy where the inactivity rate remains above its pre-Covid-19 levels

US office market segment shows signs of bottoming after big discount sales

The US office property market has been hard hit since the pandemic by higher interest rates and as many office workers worked from home

Flexible office space operators got $820 mn PE funding since 2017: Report

Flexible office space operators have received USD 820 million worth private equity funding since 2017 driven by rising demand from corporates, according to Knight Frank. In its report released on Wednesday, real estate consultant Knight Frank India said the Private Equity (PE) investments in India's flexible office space sector have fluctuated significantly. "From 2017 to 2018, investments grew steadily from USD 25 million to USD 49 million, rising sharply to USD 113 million in 2019, driven by investors like CLSA Capital and Peak XV Partners." However, investments fell to USD 11 million in 2020 and USD 6 million in 2021 due to Covid-19, it added. "A resurgence occurred in 2022, reaching USD 595 million, supported by deals from Hillhouse Capital and Actis, but dropped sharply to USD 13 million. In 2024, one deal secured USD 8 million," the consultant said. The report noted that flex-space operators have taken on lease an estimated 52.9 million sq ft (msf) from 2017 to the first hal

Table Space buys office space in Bengaluru for about Rs 500 crore

Table Space, which provides flexible workspace to corporates, has bought 5 lakh sq ft office space in Bengaluru for around Rs 500 crore to expand its business amid rising demand. According to sources, the company has acquired 5 lakh square feet office space in Whitefield, Bengaluru, for about Rs 500 crore. Real estate consultant CBRE facilitated this deal, they added. Table Space President Kunal Mehra confirmed the transaction. CBRE declined to comment. "Table Space has acquired Kalyani Camellia, Whitefield (Mahadevapura), Bengaluru, covering around 5,00,000 sq ft," Mehra said. "This is the second Table Space-owned asset in the brand's portfolio," he told PTI. Mehra did not share the deal value. The first acquisition was of Panchshil Towers in Kharadi, Pune - spanning over 9 lakh square feet. "Bengaluru is our most mature and vital market, contributing 46 per cent to overall revenue and poised to remain our largest growth area," Mehra said. He noted that Table Space is one of

Bhive leases 77k sq ft Grade A office in Indiranagar at Rs 8.5 cr annually

The cutting-edge B+G+3 building is poised to offer high-end office amenities and is strategically positioned for connectivity

Incuspaze takes on lease 325k sq ft office space in Bengaluru to expand biz

Coworking firm Incuspaze has taken on lease 3.25 lakh sq ft office space in Bengaluru to expand its business and cater to the rising demand for managed flexible workspace. The company has taken space in the QUBE Software Park, Outer Ring Road (ORR) Bengaluru. The new facility will have the capability to accommodate more than 5,000 seats. Last month, Incuspaze had taken on lease 1.56 lakh sq ft office space in Whitefield, Bengaluru. "Our expansion into this prestigious location is a testament to our commitment to providing top-tier workspaces in prime business environments. "Additionally, the availability of large land parcels and proximity to an established IT talent pool and residential hubs make the Outer Ring Road one of Bangalore's most attractive IT growth corridors," Incuspaze Managing Partner Sanjay Chatrath said. Incuspaze founder and CEO Sanjay Choudhary said, "This collaboration marks a significant step towards fostering innovation and creating a vibrant ecosystem for .

Family offices AUM growth projected at 14% over next 3 yrs: Report

Family Offices in India projected for 14 per cent growth in Asset Under Management (AUM) and a 5 per cent increase in alternative investments over the next 3 years, a report said. AUM for mid to large-sized family offices in India will grow at a Compound Annual Growth Rate (CAGR) of 14 per cent over the next three years, potentially increasing by 1.5 times, a report by Sundaram Alternates titled 'From Legacy to Leadership' said. This report highlights the significant evolution of family offices as they transition from wealth preservation to a growth-focused mindset. Indian family offices are increasingly embracing alternative investments, with a projected 5 per cent increase in allocations to 18 per cent over the next three years, it said. This aligns with a global trend, where family offices allocate more than 50 per cent of their assets to alternatives, it said. The shift reflects a strategic move toward diversification, niche investment strategies, and active participation in .

Diversity, equity, and inclusion hiring rise over 25% in 2023: Report

As India Inc is inching towards becoming more inclusive, a report has revealed that diversity, equity, and inclusion (DE&I) hiring has gone up over 25 per cent from 2022 to 2023. "With industry data indicating that DE&I hiring in India increased over 25 per cent between 2022 and 2023, it reflects a strong commitment to diversity hiring among companies," Sachin Alug, CEO of global technology and digital talent solutions provider NLB Services, said in a statement. He said NLB Services hired 10-15 per cent more from the LGBTQIA+ community over the past 3-4 years. The banking, financial services, and insurance (BFSI) sector employs the largest percentage of LGBTQIA+ talent at 18-20 per cent, followed by the IT sector at 15-18 per cent, and consulting sector at 12-15 per cent, he said. Major tier-I cities are leading in hiring across diverse groups based on job share percentages, but tier II cities like Bhopal, Bhubaneswar, Chandigarh, Jaipur, Kochi, and Lucknow are also making ...

Delhi HC asks Centre to decide on AAP office space allotment in six weeks

The Delhi High Court on Wednesday said the AAP is entitled to space for a party office here like other political parties and asked the Centre to take a decision on the issue within six weeks. Justice Subramonium Prasad said "pressure" or non-availability of a house in the general pool cannot be a reason for rejection of the request. "They are entitled to a house from the general pool. Mere pressure or non-availability is no reason to reject because pressure is always there and houses have always been allotted to political parties," the court stated. The Aam Aadmi Party (AAP) is seeking allotment of space for its office by the Centre on account of it being recognised as a national party. Considering that the AAP needs to vacate its current office in Rouse Avenue by June 15, the party's counsel had argued that a unit on Deen Dayal Upadhyay (DDU) Marg, which is presently with one of its city ministers, ought to be temporarily allotted to it. Justice Prasad, however, said the party ca

SC grants AAP time till June 15 to vacate offices at Rouse Avenue

The Supreme Court on Monday granted the Aam Aadmi Party time till June 15, 2024 to vacate its offices at Rouse Avenue here after noting that the land was allotted to the Delhi High Court for expanding judicial infrastructure. A bench of Chief Justice D Y Chandrachud and Justices J B Pardiwala and Manoj Misra asked AAP to approach Land And Development Office for allotment of land for its offices. "We would request the L&DO to process the application and communicate its decision within a period of four weeks," the bench said, adding AAP has no lawful right to continue on the land. Senior advocate Abhishek Singhvi, appearing for the city's ruling party, submitted that AAP is one of the six national parties in the country. "They are telling us as a national party we get nothing. I'm given Badarpur, while everyone else is in better places," Singhvi said. "In view of the impending general elections, we gant time until June 15, 2024 to vacate the premises so that land allotted to expand

65% employees back in office 3-5 days a week after TCS ended WFH: CEO

Tata Consultancy Services CEO K Krithivasan states that with the positive incentives provided, a majority of employees will be back in the office within the next couple of quarters

Return to office: Evolving corporate landscape redefines working space

As companies asked employees to return, demand for office spaces surged this year

Flexible office space market may rise to over Rs 14,000 cr in FY24: Report

India's flexible office space market size is estimated to rise 60 per cent to over Rs 14,000 crore this fiscal due to an increase in rent charged by operators per desk and portfolio expansion, according to Upflex India report. Upflex India, a marketplace for flexible workspaces, has released its first report 'Co-Working and Managed Offices Redefining the Indian Commercial Real Estate'. Real estate consultant Anarock brought US-based Upflex to India in 2021. As per the report, the annual co-working market size in terms of rental income is estimated to rise to Rs 14,227 crore this fiscal from Rs 8,903 crore in the previous year. The total portfolio of flexible workspace operators has increased to 12.66 lakh from 10.4 lakh in 2022-23. In terms of area, the portfolio has risen to 57 lakh square feet from 47 lakh square feet. Upflex data showed that the average price per seat per month has increased to Rs 10,400 from Rs 9,200 per desk. The occupancy level has increased to 90 per cent fr

National Boss Day 2023: Date, history, significance and best wishes

National Boss Day is celebrated every year on October 16, this day recognises the dedicated Boss whose hard work leads to personal, professional and organisational growth

EU opens antitrust investigation on Microsoft over Office, Teams bundling

The European Union announced Thursday that it opened a formal antitrust investigation targeting Microsoft into the software company's Teams messaging and videoconferencing app over concerns that its bundling with its Office productivity sofware suite gives it an unfair edge over competitors. The European Commission, the 27-nation bloc's top competition enforcer, said that it would carry out its in-depth investigation as a matter of priority. The investigation stems from a complaint filed in 2020 by Slack Technologies, which makes popular workplace messaging software. Slack, owned by business software maker Salesforce, alleged that Microsoft was abusing its market dominance to eliminate competition in violation of EU laws by illegally combining Teams with its Office productivity software suite.

Property Share facilitates acquisition of Rs 370 cr leased office assets

Property Share, which runs a platform for fractional ownership of real estate, has facilitated investors in acquisition of 5.33 lakh square feet of rented office space in Bengaluru for Rs 370 crore. Property Share, in a statement, said that it has "facilitated the acquisition of Phase I of Prestige Tech Platina, a 5,33,000 square feet Grade A asset in Bengaluru for Rs 370 crore." The minimum investment size was Rs 25 lakh for investors. More than 500 investors participated for acquisition of this asset under fractional ownership model. Established in 2016, Property Share is a technology driven real estate investment platform that allows ordinary users access to institutional grade assets with 8-10 per cent in-place rental yields and 17-20 per cent returns. The office space has been leased to a prominent US-based technology company. Property Share said the deal was closed at a rental yield of 10 per cent (including 1 per cent enhanced yield) with a 7-year lock-in period. This ...

Office space leasing up 2% at 14.6 mn sq ft in top 6 cities: Colliers

Average office rentals remained stable during April-June at Rs 95 per square feet across six major cities as new supply rose 32 per cent, while demand grew by a modest 2 per cent, according to Colliers India. Real estate consultant Colliers India released its quarterly data of six major office markets -- Bengaluru, Delhi-NCR, Mumbai, Chennai, Hyderabad and Pune -- on Wednesday. Gross leasing of office space rose 2 per cent to 14.6 million square feet across top six cities during April-June, from 14.3 million square feet in the year-ago period, driven by technology, engineering & manufacturing sectors. Chennai saw a three-fold jump in office demand, beating Delhi-NCR and Mumbai in leasing activities. New supply of office space rose 32 per cent to 12.4 million square feet across these six cities from 9.4 million square feet. Weighted average rental remained flat at Rs 95 per square feet a month, across six cities. Peush Jain, Managing Director, Office Services, India, Colliers, ...

Citi signals consequences for not complying with return to office norms

While the vast majority of staffers are following the firm's rules for hybrid work, the moves are focused on those employees with persistent, unexplained absences

Workers resisting office grind suddenly finding themselves lonely at home

Few companies are insisting on a full-time return to the office, with most preferring hybrid models that allow some flexibility

Hyderabad offered highest new office space in India in 2022-23: Anarock

At the end of FY23, Hyderabad accounted for a 31 per cent share of the total office space supply in the top seven Indian cities