Page 2 - Office Spaces

Office transactions record 29% YoY growth during Q3: Knight Frank India

As per the data, transaction volumes for offices have gone up but the rental levels have also stabilised or grown in YoY and sequential terms across all markets.

From traditional cubicles to smart cabins, co-working is back with a bang

Demand fuelled by hybrid work models, digital nomads, post-Covid urban loneliness

Office space absorption to touch 53-57 mn sq ft by 2022-end: Report

According to the CBRE research, Q3 2022, 73% of workplaces allow for hybrid working, 18% allow for office only and 6% for remote only

Co-working space demand rises in H1 even as IT sector share dips

Average monthly office rentals rise across cities, highest in NCR and Hyderabad at 5%

Embassy REIT has delivered 50% total returns since listing: Vikaash Khdloya

"Our overall philosophy on co-working has been that it is an amenity for our business parks and occupiers", said Khdloya

The WFH-WFO faultlines

The problem is that the notion that WFH equals less pay and perks has been hardwired into corporate thinking

Smartworks leases tech park in Bengaluru; aims Rs 1,000 revenue in 2022

Smartworks' revenues have increased three-fold, and it aims to reach the Rs 1,000 crore revenue milestone in 2022

Fresh supply of office space rises 96% in Jan-Jun across 6 cities

The supply stood at 12.1 million square feet in the January-June 2021 across these six cities - Bengaluru, Chennai, Hyderabad, Pune, Mumbai and Delhi-NCR.

Coworking firm Simpliwork Offices takes on lease 150K sq ft in Chennai

Coworking firm Simpliwork Offices on Tuesday said it has taken on lease 1.5 lakh square feet of office space in Chennai from DLF and Mindspace Business Parks REIT to expand business. Bengaluru-based Simpliwork Offices, which provides managed office space to corporates, has taken on lease about 80,000 square feet from DLF and around 70,000 square feet from Mindspace. The demand for managed office space has increased during the COVID pandemic as corporates are looking for flexibility to scale up. The centre in DLF Downtown, Chennai will have more than 1,700 seating capacity and expected to be operational early next year, while the facility at Commerzone, Porur with Mindspace Business Parks REIT is already operational. "The office market in Chennai is known for its resilience. A key market, it accounts for a growing share of India's total Grade A office space stock and demand," Kunal Walia, CEO & Founder of Simpliwork Offices, said. Given its strategic location housing multiple ...

Happiest Minds buys 2.4 lakh sq ft office space for Rs 101 cr in Bengaluru

IT company Happiest Minds Technologies has purchased a fully built-up ready-to-use commercial property spread over 2.4 lakh square feet in Bengaluru for Rs 101 crore, the company said on Friday. The facility with a seating capacity of 1,600 seats is in the technology hub of Electronics City. Financially, the purchase is funded substantially through borrowings from banks at very favourable terms. The transaction is positive from a P&L perspective while adding a significant asset to our balance sheet," Happiest Minds Technologies managing director and CFO Venkatraman Narayanan said in a statement. "We have structured repayments in a manner such that cash flows are neutral in the medium and positive in the long term, Narayanan added. The facility enhances the company's seating capacity in Bengaluru by about 30 per cent and is in-line with expansion plans and objective of strengthening delivery capabilities across existing and newer locations like Bhubaneswar.

'Leasing of space at 18.2 mn sq ft in top 9 cities during Jun quarter'

Leasing of office space in top nine cities rose 61 per cent during the June quarter to record 18.2 million square feet from the previous quarter on better demand, according to a report. Real estate consultant CBRE on Monday releases its office leasing data for April-June (Q2) of 2022. "...office sector leasing in India recorded the highest-ever activity with a strong performance in Q2 2022," CBRE said in a statement. The gross leasing of office space jumped 220 per cent from the same period of the last year. "The office sector in India reflected a strong recovery in H1 (January-June) 2022 as occupier sentiments were uplifted due to the relatively reduced severity of the Omicron wave, the subsequent relaxation of restrictions, and improved economic activity," Anshuman Magazine, Chairman & CEO -India, South-East Asia, Middle East & Africa at CBRE, said. He expected the annual office space absorption for 2022 to be higher than 2021. CBRE said that the absorption in H1 ...

Recovery tracker: Surge in workplace attendance up despite rising cases

Power generation, vehicle registrations decline, recreation visits down

Net leasing of office space down 26% in 7 cities in April-June: JLL India

Net leasing of office space fell 26 per cent during April-June across seven major cities to 8.5 million square feet as compared to the previous quarter due to lower supply, says JLL India.

Total office space leasing in May jumps nearly 3-fold across 7 cities: JLL

The total or gross leasing of office spaces rose 28 per cent from 4.8 million square feet in April 2022 across seven major cities -- Delhi-NCR, Mumbai, Bengaluru, Chennai, Hyderabad, Pune and Kolkata

Highest office space vacancy in Delhi-NCR at 28.5%: Anarock report

Office vacancies in NCR are the highest among the top 7 cities at 28.5%, followed by Kolkata at 23.5% and Mumbai Metropolitan Region about 16%, Anarock said in a statement

Embassy REIT distributes over Rs 5,800 cr to unitholders since listing

Embassy REIT has delivered 2.5 million square feet of new space and commenced a 4.6 million square feet of the new development growth cycle

Tech industry comfortable with hybrid work model: Nasscom-BCG report

Over 80 percent of the IT companies and GCCs are most likely to adopt a hybrid work model as compared to the rest of the industry segments

Tata Realty leases 156,000 sq ft office space to Johnson Controls, PepsiCo

Johnson Controls has taken on lease 85,000-square-foot office space in Intellion Park Gurugram, an IT/ITeS SEZ campus

Tech, engineering, manufacturing firms lead office space in Chennai: Report

As per the latest office report 'CBRE India Office Figures Q1 2022', the total office leasing for the quarter (ending March 31, 2022) was at 2.3 million square feet in Chennai

Embassy REIT raises Rs 1,000 crore via 5-year paper to fund operations

The coupon rate on these bonds is 7.35 per cent