Page 13 - Office Spaces

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

Silver lining for an office property market hit hard by the pandemic

While there has been a significant decline in sales sequantially and annually, rents are holding in top markets, says one study

Smartworks takes 600,000 sq ft offices on lease in Mumbai, Pune, Hyderabad

Firm currently has 31 co-working centres, with 60,000 seats and 4 min sq ft across nine cities.

Mindspace REIT gains 10% on debut, units worth Rs 800 cr change hands

Hits an intra-day high of Rs 307 and a low of Rs 300 on NSE, before closing at Rs 303 a unit

Embassy Office Parks REIT to invest Rs 1,500 cr to develop office spaces

This additional 2.6 million square feet of space is in the early stages of construction and will be a part of its existing integrated business parks and campuses

Japan's Fujitsu to halve office space in three years citing 'new normal'

The IT solutions company said its roughly 80,000 group employees in Japan would work flexible hours, and work-from-home would be standard wherever possible

Office space leasing dips 36% in Jan-June across 7 top cities: Colliers

Majority of the deals expected to take place in the second quarter of 2020 were pushed to subsequent quarters, or are being reconsidered

Covid-19 impact: MNCs strike big rental deals despite work from home push

RMZ, one of the biggest owners of office properties in southern India, has done a handful of lease rental deals with global firms in recent weeks.

Office leasing may slip 30% in 2020; rentals to stay stable: JLL India

On residential real estate, JLL India CEO said the housing sales have improved of late but it was only 30 per cent of the pre-Covid-19 level

The office stays: How commercial real estate will survive Covid-19 crisis

Companies can't make work-from-home a permanent feature of their business. India's commercial real estate market will do well despite the pandemic, writes Anshuman Magazine

Embassy Office Parks REIT to gain from Covid-19 situation, says CEO

While the Covid-19 pandemic has resulted in an uncertain near-term outlook for many businesses worldwide, Holland said Embassy REIT is uniquely positioned to weather the pandemic

Wearing face masks made compulsory in public, work spaces of Bengaluru

Wearing of masks have been made mandatory in several cities in the backdrop of spread of the coronavirus.

Covid-19: Demand for disinfectant tunnels grows as malls, offices, line up

Disinfectant tunnels are becoming one of the most in-demand commodities in the post-Covid-19 world with malls, offices, banks, shops all lining up to install the structure at their entrances

Lockdown 2.0: Office space leasing sees 37% fall on coronavirus outbreak

Companies deferred their decision to hire workspace amid global economic slowdown caused by Covid-19, according to Cushman & Wakefield.