IndiQube targets over four million sq ft of flex-office by 2021, Real Estate News, ET RealEstate

Representative Image BENGALURU: Flexible office operator IndiQube plans to expand its managed office business across Bangalore, Pune and Hyderabad as the demand for serviced offices is expected to grow in 2021. The firm that operates around 2.5 mn sft serviced offices across major cities plans to add another 2 mn sq ft space by the […]

315Work Avenue leases around 1,00,000 sq ft workspace in Bengaluru, Real Estate News, ET RealEstate

File photo BENGALURU: Flexible office provider, 315Work Avenue has leased one lakh sq ft of office space in Bangalore to cater to the growing demand from large enterprises. The new office will be spread across two properties located at Koramangala and old Madras road in Bangalore and will have around 2000 seats. “In the current […]

WeWork’s revenue dips 8% to $811 million in Q2 FY21, Real Estate News, ET RealEstate

NEW YORK: WeWork Companies LLC’s revenue declined in the third quarter but its cash burn slowed, a company memo showed on Thursday, with management confident the shared-workplace provider can weather the hit to the office sector from COVID-19. Quarterly revenue slid 8% from the second quarter to $811 million, while the company posted cash burn […]

Workspace Group swings to loss as customers downsize due to virus crisis, Real Estate News, ET RealEstate

Representative Image BENGALURU: Workspace Group on Wednesday swung to a first-half loss and pushed back a decision on full-year dividend as the office space provider struggled with a rise in customers vacating and downsizing due to the coronavirus crisis. Work-from-home policies and the economic fallout from the pandemic have hurt margins for office space providers […]

Standard Chartered moves to permanent flexible working, Real Estate News, ET RealEstate

LONDON: Standard Chartered will make permanent the flexible working arrangements for most employees that were put in place during the coronavirus pandemic, it said on Thursday. The Asia, Africa and Middle East-focused bank said it aims for around 50% of its markets, comprising around 70% or 60,000 of its employees, to be able to adopt […]

IWG’s revenue fell 10.2% to $754.38 million in Q2 FY21, Real Estate News, ET RealEstate

BENGALURU: British office space provider IWG said on Tuesday it has started to see some improvement in its sales activity and highlighted increasing interest in flexible working as companies address how their employees will work in the future. The owner of the Regus brand said the advent of further potential pandemics and the need to […]

Sandeep Mathrani, CEO, Real Estate News, ET RealEstate

NEW DELHI: Co-working major WeWork will focus on achieving profitable growth globally, including in India, in 2021 by increasing the occupancy level of its real estate portfolio, the company’s CEO Sandeep Mathrani said. Further, Softbank backed-WeWork will revisit its plan to launch an initial public issue (IPO) only after it becomes profitable, said Mathrani, who […]

Court filing, Real Estate News, ET RealEstate

BOSTON | BENGALURU: SoftBank Group CEO Masayoshi Son told the executive he tasked to turn around WeWork after its botched initial public offering to “use whatever excuse” to delay a $3 billion payout to the office-sharing startup’s shareholders, a court transcript released on Wednesday showed. The transcript, part of a Delaware court filing, provides new […]

Awfis opens 65,000 sq ft flex-working centre in Chennai, Real Estate News, ET RealEstate

NEW DELHI: Awfis, a flex workspace provider, has opened 65,000 sq ft flex-working centre at Gemini Circle, Nungambakkam, Chennai. The new centre is spread across six floors with over 1,200 workstations and eight meeting rooms. This is its first centre in the city. The company hopes to grow to 5-6 centres in Chennai in the […]

Simpliwork Offices looks to double up its space in NCR, Real Estate News, ET RealEstate

Flexible office space operator Simpliwork Offices is looking to double up its space in NCR in a year, taking the total investment in the region to Rs 400-500 crore. The company has already signed two spaces in NCR and is in the final stages of signing leases for another two centres, bringing its portfolio to […]

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