Page 3 - Office

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

More employees need to work from offices, says Wipro Chairman Rishad Premji

Information technology major Wipro's Chairman Rishad Premji on Wednesday said more employees need to work from offices rather than from their homes. He also said that coming to office helps in establishing a connect and an intimacy which is very essential for us as humans, and made it clear that no technology can be of help on the same. "You can't build that connectedness and intimacy no matter how advanced technology gets. We are human beings. I am a big believer that we should be coming back (to offices) in some shape and form," Premji said while speaking at the NTLF 2023. Accepting that hybrid working, where an employee works both from office and homes, is the future of work, Premji said the technology industry is one of the most "spoilt" sector where people enjoy this unique way of working. "People should have flexibility to work from home but people should also be coming into organisations," he said. Premji said it was possible to work from homes in the initial days of the ..

Four-day week boosts employee well-being, reduces stress: New trial

Working four days a week promotes employee well-being, reduces stress while preserving productivity, a six-month trial revealed

Rs 23,380 crore needed to upgrade office buildings in top 4 cities: Report

Property consultant JLL India on Tuesday said that nearly 350 million square feet of premium office space across four major cities needs upgradation with an estimated investment of Rs 23,380 crore. In a statement, JLL said that Bengaluru, Mumbai, Delhi-NCR, and Hyderabad hold 347 million square feet of Grade A office stock which requires upgradation and retrofits. Bengaluru has 118.8 million square feet of Grade A stock that requires upgradation, followed by Mumbai with 85.8 million square feet, Delhi-NCR with 80 million square feet and Hyderabad with 62.8 million square feet. The upgradation includes age, services and amenities-related upgrades as well as sustainability-led asset enhancements. "The estimated total investment across the four cities for the upgradation of the said total stock is around Rs 23,380 crore," it said. For the capex spend calculations, all projects over 1,00,000 square feet have been considered irrespective of the age of the asset. The top four cities acc

BHIVE Workspace completes 1 mn sq ft of shared office space in Bengaluru

Newest facility spread across 23,000 sq ft and with 700 seats comes up at Whitefield

Office space leasing activity up 66% YoY in Jan-Sept of 2022: CBRE report

Benguluru, Delhi-NCR and Chennai led the space absorption, together accounting for 62% of total transaction activity in the first nine months of the Calendat year

Wipro asks employees to report to office at least three days a week

The firm's office will remain open for four days each week

Office leasing activity could cross 50 mn sq ft in 2022: Colliers report

Office absorption has already touched 40.6 million sq ft during the first three quarters of Calendar 2022, up two fold over the same period last year, which was marked by Covid-19 induced lockdowns

Office leasing for all grades of buildings down 25% in Aug annually: Report

The total leasing of office space for all grades of buildings fell 25 per cent in August across seven major cities to 3.9 million square feet as against same month last year on lower demand, according to property consultant JLL India. The aggregate office market leasing activities refer to transactions for all grades or types of buildings in the top 7 cities (Delhi-NCR, Mumbai, Bengaluru, Chennai, Hyderabad, Pune and Kolkata). The data includes confirmed pre-commitments and term renewals. Deals in the discussion stage are not included. Total office leasing activities stood at 5.2 million square feet in August 2021. "Overall market traction was slower in the month of August 2022, down by 25 per cent y-o-y (year-on-year) at 3.9 million square feet, mostly due to lower pre-commitments," JLL said in a report. The leasing in August fell 56 per cent from 8.8 million square feet in July this year. Mumbai, Delhi-NCR and Bengaluru were the top three cities, accounting for three-fourth of

Over 800 WhiteHat Jr workers resign when asked to work from office: Report

The employees who resigned didn't want to relocate to their respective office locations

A Trapezoid? Conference tables change shape in hybrid-work era

As employees embrace hybrid work, companies need to reevaluate meeting spaces when some attendees are in the office and others dial in

Myntra moves to new fashion, tech and sustainability oriented office

300,000 st ft premises is situated in Outer Ring Road at Kadubeesanahalli, Bengaluru

Rushing back to office

There's a real fear that senior colleagues, who can't stand the idea that one of their own has the privilege of working remotely, could end up undermining his position

TMS Ep-123: Back to office, Indian trade, markets, NSE IFSC

Is India Inc going back to office? How is Indian trade filling the void created by Russia? Buy when markets dip or sell on a rally? How to invest in international stocks via NSE IFSC? All answers here

India Inc busy with back-to-office drill as Covid-19 cases decline

Employees are returning to offices, but many companies are continuing to offer the remote, flexi-work option