Page 3 - Office Spaces

Employees trickle back into changed office spaces as Covid-19 cases decline

As India Inc gets back to office, employers are tweaking work spaces and using innovative solutions to tackle new concepts

Office leasing in Gurugram rise two-fold, Noida sees slight rise in 2021

The office market in Delhi-NCR remained active last year despite pandemic, with Gurugram witnessing a nearly two-fold jump in gross leasing to 4 million square feet, according to Colliers India.

Coworking firms lease 21% more office space in 2021 across top 8 cities

Co-working operators expanded their portfolio aggressively last year and took on a lease 21 per cent more office area across the top 8 cities to meet the rising demand of flexible workspaces from corporates amid the COVID pandemic, according to Cushman & Wakefield. The leasing of office spaces by co-working operators across eight major cities increased to 4.91 million square feet in 2021 from 4.05 million square feet in the previous year. These eight cities are -- Bengaluru, Hyderabad, Pune, Mumbai, Delhi-NCR, Chennai, Kolkata and Ahmedabad. Cushman and Wakefield India in its quarterly Office Market Beat report highlighted that the share of the co-working segment in the gross office leasing grew to 9.4 per cent last year from 8.1 per cent in the previous year. Across eight major cities, the coworking players provided on lease 78,869 seats or desks in the 2021 calendar year to occupiers, mainly to corporates. In 2020, the report said that 37,759 seats were given on lease to ...

Demand for office space segment to rise 15-20% YoY in 2022: Colliers

Demand for office space segment is expected to rise 15-20 per cent year-on-year in 2022 as there is a great appetite in this segment, global real-estate consultancy firm Colliers said on Monday.

Top-5 IT firms to rent 12 mn sq ft office space on robust hiring: Report

Co-working spaces to see demand because the challenges of the pandemic continue with discovery of new variants such as Omicron

Indian office market may take 2 years to reach pre-Covid level: Colliers

The leasing of office space across major cities is likely to rise marginally this year with corporates becoming less cautious, Colliers India CEO Ramesh Nair has said.

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.

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.

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 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

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.

Vacancy levels at 3 REITs set to rise another 300 bps

Work from home, second wave have deferred leasing decisions by occupiers

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

'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

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

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

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

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.

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