Page 8 - Office Spaces

Smartworks leases office space in Pune; invests Rs 150 cr on new centre

Smartworks has leased a 5.6 lakh sq ft area in Pune, and invested around Rs 150 crore to set up a new centre as part of its strategy to expand the business amid rising demand

Embassy Office Parks REIT expects demand to bounce back in early FY22

Occupancies may fall 100-200 bps in the coming quarters

'Work near home' lifts corporate leasing of co-working spaces by 73% in H1

Companies are looking at managed spaces for the triple benefits of cost savings, lease flexibility and the hybrid/hub-spoke model of working that they offer

Covid-19: Future of work fast-forwarded with VR meetings, job sharing

From corporate offices to shopfloors, from vendor meetings to client servicing, Indian companies are - just like some big Wall Street firms - debating the pros and cons of remote working

Gross leasing of office space down 22% across 6 cities in Jan-June

Gross leasing of office space declined by 22 per cent year-on-year across six major cities during January-June this year to 10.1 million sq ft due to lower demand amid Covid-19 pandemic

Blackstone to buy out office developer SOHO China in $3-billion deal

The founders of the Chinese office developer will retain a 9% stake in the company

Twin challenges for office developers in 2021: Low demand, renewals

Occupancy levels at the end of March was down 88.9 per cent, or 390 bps over the year-ago period.

Demand rises for Covid-19 vaccines at offices, residential complexes

Mumbai-based Hinduja Hospital said it has been approached by 100 corporate houses and housing societies

Covid crisis: Flexible workspace options to soar as firms expand capacity

They are using the interregnum to expand and to negotiate cheaper real estate deals to add seating capacity

Delhi-NCR logs 5% growth in office space absorption in Jan-Mar: JLL

IT and IT-enabled services, BFSI, healthcare, legal and consulting firms dominated leasing during the quarter.

HSBC top staff to hot desk at London HQ as bank scraps executive floor

CEO Noel Quinn and other senior managers have been kicked out of their offices on the 42nd-floor.

Work from home culture may mute demand for office space: Ind-Ra study

Commercial real estate to show a stable performance in financial year, says report

Embassy Reit to invest Rs 2,300 cr to develop 5.7 mn sq ft office space

Says it sees an opportunity in the drop in overall supply in Bengaluru due to liquidity crunch

The A is now The Quorum: Rana Kapoor family-led business club changes hands

The Quorum in Mumbai aims to introduce and extend its blend of hospitality and philosophy of being community-led, content-driven, design-focused and experiential.

New supply of office space down 30-35% in 2020 amid pandemic: Reports

New office space supply was less impacted than the demand, which fell by around 45-50 per cent with corporates deferring their expansion plan and adopting work-from-home policy for employees

MNC office space leasing for R&D rose five-fold in 2014-19 period: Report

Gross office space leasing by multi national companies to set up R&D centres across major Indian cities stood at 14.13 million sq ft in 2019, a nearly five-fold jump from 2014, as the country remains an attractive destination for global outsourcing, according to Cushman & Wakefield. The property consultant has recently released its report titled 'Global Capability Centers -- Making India the Cradle of Global R&D' that analyses the Indian 'Global Capability Centers (GCC)' industry, its evolution over the years and key growth drivers. During 2014, only 3.15 million sq ft of gross office space was leased by captive or GCCs, contributing 8 per cent of the overall gross leasing. The number, however, jumped to 14.13 million sq ft during 2019. The share of captive centers in the overall office demand has risen to 20.9 per cent during 2019 from a mere 8 per cent in 2014, the consultant said in a statement. "The captives, Global In-house centers (GICs) or Global Capability Centers .

Office space leasing by co-working players to fall 58% in 2020, says report

At a juncture when co-working spaces were seeing strong growth, the outbreak of Covid-19 has played spoilsport.

Office spaces adapt to post-Covid world with safety on its mind

This has meant changes in the traditional layout of offices. No longer open for waiting, the reception areas have turned into zones for temperature checks and sanitation

Blackstone-backed Embassy Reit eyes large office parks for acquisition

The Blackstone-backed Reit is looking at an asset size of anywhere between 2 million square feet to 10 million square feet for acquisitions

WeWork India expects 25% growth in revenue for 2020 despite Covid-19

WeWork India, which is owned by Bengaluru-based realty firm Embassy Group, has 34 centres comprising 60,000 desks across six major cities