There is a theory making rounds that many offices are pushing for wfo as the big shot executives themselves have bought and invested heavily in corporate real estate and wfh was hampering it.
Any thoughts????
It's not a theory it's the truth. You can't drive up the prices if no one is using it.
Bengaluru tech parks are owned by politicians. Rest is up to your imagination.
If tech parks are owned by politicians then why not companies threaten them that either control the price and provide basic amenities in a good way or they will vacate the IT area, in this way even wfo will be in better condition.
Not sure about the executives angle but the tech park and big shot business owners lobbied the government to force companies for WFO. Otherwise give me one reason a capitalist for profit firm would want to spend money on WFO.
Why business owners will lobby company to force company for wfo. Don't the business owners are owing the companies, so they can directly implement wfo.
These are different "business" owners. The ones I am talking about are not the ones who take risks to build D2C to B2B companies or do any innovation. These are the ones who had generational wealth and pedigree to build orthodox businesses which require blinding amount of money and which are evergreen (atleast until covid). These businesses are building tech parks, apartments, malls, PGs, hotels, etc. If people don't live in Blr (and other major cities) and work from the convenience of their homes, they will not survive.
Investment firms that have invested in properties have also invested in a lot of companies. Plus have friends who have invested in these companies. A threat to say short Google from any of these institutional investors like BlackRock will mean the stock going down real quick. So the companies will budge and call for WFO
