Page 12 - Office Spaces
Co-working firm Awfis gives on lease 64,000 square feet space to WayCool
Co-working firm Awfis on Tuesday said it has given on lease 64,000 square feet office space to agri-commerce firm WayCool. Awfis has leased 64,000 square feet to WayCool across Chennai and Bengaluru. Property consultant CBRE facilitated the leasing deal. Currently, the co-working player has 95 centres and 55,000 seats spread across 13 cities and is soon heading towards the 100 centres milestone before the end of 2021. Today, organizations are on the lookout for solutions that not only offer safety and convenience but also go the extra mile to improve productivity while optimizing costs," Amit Ramani, Founder & CEO, Awfis said. "The commercial real estate sector has proven to be extremely resilient over the last year. With the role of workplace changing, we at CBRE are optimistic that the sector's steady growth will continue in the future as well," said Anshuman Magazine, Chairman & CEO - India, South East Asia, Middle East & Africa, CBRE.
 "Co-working firm Awfis gives on lease 64,000 square feet space to WayCool")
The Executive Centre to invest Rs 200 cr to expand India office space biz
Nidhi Marwah, Group Managing Director- South Asia, TEC, said the company performed well during the last fiscal year despite the adverse impact of the COVID-19 pandemic on demand for office space.
 "The Executive Centre to invest Rs 200 cr to expand India office space biz")
Office space leasing up 89% in Sept quarter driven by IT sector: Colliers
Top six Indian cities see biggest office space demand since January-March 2020
 "Office space leasing up 89% in Sept quarter driven by IT sector: Colliers")
Office absorption rose by 168% in Q3CY21, says Knight Frank report
Study says in Jan-Sept 2021, office markets had incremental activity of 13% by volume and 6% growth in new office completion over same period last year
 "Office absorption rose by 168% in Q3CY21, says Knight Frank report")
BS Number Wise: Home truths about Indian real estate in the pandemic
Top tenants of commercial real estate-mostly IT companies-actually added to their office stock and demand for residential space is reviving.
 "BS Number Wise: Home truths about Indian real estate in the pandemic")
Vacancy levels at 3 REITs set to rise another 300 bps
Work from home, second wave have deferred leasing decisions by occupiers
 "Vacancy levels at 3 REITs set to rise another 300 bps")
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
 "Embassy Office Parks REIT expects demand to bounce back in early FY22")
'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
 "'Work near home' lifts corporate leasing of co-working spaces by 73% in H1")
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
 "Covid-19: Future of work fast-forwarded with VR meetings, job sharing")
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
 "Gross leasing of office space down 22% across 6 cities in Jan-June")
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
 "Blackstone to buy out office developer SOHO China in $3-billion deal")
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.
 "Twin challenges for office developers in 2021: Low demand, renewals")
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
 "Demand rises for Covid-19 vaccines at offices, residential complexes")
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.
 "Delhi-NCR logs 5% growth in office space absorption in Jan-Mar: JLL")
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.
 "HSBC top staff to hot desk at London HQ as bank scraps executive 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
 "Embassy Reit to invest Rs 2,300 cr to develop 5.7 mn sq ft office space")
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.
 "The A is now The Quorum: Rana Kapoor family-led business club changes hands")