Page 7 - Office Space

Demand for office space up 50% in 2021 led by startups, tech cos: Colliers

Demand for office space in Delhi NCR region has grown 50 per cent year-on-year in 2021, majorly due to strong absorptions by startups and technology firms, said real estate consultancy firm Colliers

Gross office space leasing up 16% in 2021 across top 9 cities: CBRE

Gross office space leasing across nine major cities rose 16 per cent to 41.1 million square feet during the last year, driven mainly by higher demand in Hyderabad, real estate consultant CBRE said on Friday. Office space leasing or absorption stood at 35.4 million square feet during 2020, while the new supply was 42.1 million square feet. Releasing its office report 'CBRE Figures', the consultant said Bengaluru, Hyderabad, and Delhi-NCR together account for 70 per cent of the leasing activity. "The physical office would be more effective for occupiers in India in supporting employee engagement, collaboration, team productivity and innovation, relative to remote working," said Anshuman Magazine, Chairman & CEO - India, South-East Asia, Middle East & Africa, CBRE. While office utilisation rates across cities would fluctuate in tandem with infection rates owing to new variants (Omicron), he believed that occupiers would encourage employees to come back to offices, with their ...

Net office space leasing up 2% in 2021; down 45% from 2019 levels: Report

The net absorption of office space stood at 25.66 million square feet in 2020 and record 47.8 million square feet in 2019

WeWork India turns profitable on top line of Rs 800 crore in Jan-Nov

The flexible office space start-up had entered India in July 2017 through a franchise model with Bengaluru-based property developer Embassy Group

Godrej group PE arm GFM raises $500 mn to build premium office buildings

Godrej group's real estate private equity arm Godrej Fund Management (GFM) on Wednesday said it has raised USD 500 million (Rs 3,800 crore) for development of premium office assets.

'Office space leasing in 7 cities to reach 95% of pre-Covid level in FY23'

The increase in net leasing and steady rental collections, which had not fallen significantly, will ensure that the credit profiles of commercial real estate owners remain stable, Crisil said

Office space leasing falls 4 pc to 25 mn sq ft during Jan-Sep: CBRE

Office space leasing dropped four per cent to 25 million square feet during January-September this year across six major cities due to adverse impact of the second wave of the COVID-19 pandemic, according to CBRE. In its report 'India Market Monitor Market' for the third quarter of the calendar year 2021, CBRE said 13.5 million square feet space was leased during the July-September quarter, up 140 per cent from the previous quarter. "Space take-up of 25 million square feet recorded in 2021 YTD (year-to-date), a marginal drop of 4 per cent year-on-year," the consultant said. Nearly 34.3 million square feet of supply addition witnessed in 2021 YTD, marginally up four per cent year-on-year, it said. Anshuman Magazine, chairman and CEO (India, Southeast Asia, Middle East & Africa) of CBRE, said, "India's real estate market has proven to be resilient over the last year. The overall outlook for the Indian real estate continues to be positive back of an accelerated vaccination drive, ...

LinkedIn allows staff to work fully remote, removes in-office expectation

By Danielle Kaye

Work from home future fades in Asia as companies seek more office space

The firm surveyed 109 companies across the region from industries including real estate, technology and finance between May and June

Office space jumps 75% annually during Jan-Jun across seven cities

Realty firms remain bullish on revival in workspace demand, according to JLL India.

Investors look to US office space, Indian warehouses amid Covid-19

Thanks to Covid disruptions, office and shopping mall rentals are no longer attractive

Office reimagined: In team leaders, soft skills take centre stage

"While leaders are responsible for a better tomorrow, managers are responsible for a better today," says Ashish Ambasta, founder and CEO of HappyPlus Consulting, a tech-enabled HR firm

Office reimagined: Some new work ways may outlast Covid-19 pandemic

Staggered office days, virtual hiring, temporary bosses could be the new normal

Flexible office space stock to grow 10-15% annually over next 3 years

India's flexible office space segment has a total stock of 36 million sq ft currently and is likely to grow 10-15 per cent annually over the next three years on rising demand from corporates

Net absorption of office space plunges 33% in Q1 of Calendar 2021: JLL

Prolonged work from home, rapid pandemic spread cited as reasons for drop

Office space supply in the top metros likely to drag down absorption

Supply may be double of demand by fiscal 2022-2023

Institutional investments record a sharp rebound in 2020, shows data

While more than half of the Rs 36,500-crore investment materialised in the last quarter, limited number deals indicate a narrow-based recovery so far.

Quarterly absorption of office space reaches Q1 levels in Q4CY2020

Hyderabad led the pack with the highest net absorption in Q4CY2020

Office leasing in top 6 cities plunges to 27.4 mn sq ft in 2020: Report

Office space absorption across six major cities in India fell over 50 per cent in 2020, according to a Savills India report

YES Bank takes on lease 62,500 sq ft office space in Noida from Max group

Max group's realty arm Max Estates on Thursday said it has leased 62,500 sq ft of office space to Yes Bank in its commercial project in Noida, Uttar Pradesh. Max Estates is a subsidiary of Max Ventures & Industries Ltd (MaxVIL). In a statement, the company said it has leased about 62,500 sq ft at its commercial project 'Max Towers' in Noida to Yes Bank, which plans to relocate its offices from the Central Business District (CBD) to the new location to rationalize cost. During the last six months, Max Estates has also leased around 25,000 sq ft to Indian Energy Exchange (IEX) Ltd. "The demand for Grade A office spaces has been growing in Noida mainly due to relatively high rentals in Delhi and Gurugram's established office space locations and emerging supply of better quality assets," MaxVIL Managing Director Sahil Vachani said. Max Estates has so far leased around 3,90,000 sq ft at Max Towers, which is located on the Delhi Noida Directway (DND). The company did not share the per .