Although it depends what the team building exercise and duration is, I vote: definitely company time.
People want to spend time with friends and family on weekends/evenings, not their colleagues. Exception for me would be a work dinner where my spouse was invited, like a holiday party.
A former employer of mine suggested a similar thing, in form of a bus trip to a far-out emirate to go "camping" one weekend. I could think of nothing worse than spending time with colleagues I had nothing in common with or bosses I couldn't stand, headed to the middle of nowhere on a bus after working a 60 hour week.
![We Tried [u]bk's Lively Garden Brunch at Mövenpick JLT Dubai](https://cdnexpatwomanfood.expatwoman.com/s3fs-public/urban%20bar%20and%20kitchen%20brunch%20main.png "We Tried [u]bk's Lively Garden Brunch at Mövenpick JLT Dubai")
