• The cast of 'The Young and the Restless' pose in the press room during The 42nd Annual Daytime Emmy Awards at Warner Bros. Studios on April 26, 2015 in Burbank, California.

The cast of 'The Young and the Restless' pose in the press room during The 42nd Annual Daytime Emmy Awards at Warner Bros. Studios on April 26, 2015 in Burbank, California. (Photo : Frederick M. Brown/Getty Images)

"The Young and the Restless" (Y&R) episode airing on July 29 will see some massive drama revolving around Jabot. The show will focus on Phyllis, Jack, Billy and Chloe's return. At the same time, Chloe finds an unexpected ally. Here are the details for the next chapter of CBS' long-running soap opera. Also, find out what happens in the week of Aug. 1.

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[Spoiler alert! This article contains spoilers for "The Young and the Restless" (Y&R) episodes airing on July 29 and the week of Aug. 1 - 5. Do not read further if you don't wish to know more about it.]

The upcoming segment of "The Young and the Restless" (Y&R) opens with Phyllis receiving a surprising news. According to She Knows spoilers, Phyllis finds out that they will have to share space in the Jabot building with Billy.

A television promo for the Friday episode teases a conversation between Cane and Phyllis.

"We're the new tenants, which means Billy and I will be right downstairs," Cane tells Phyllis.

This news is bound to shake Phyllis up considering her relationship with Phyllis. Meanwhile, Jack comes face to face with Billy and talks to him about the change in the offices.

"You don't have a problem with it, do you? Us having offices in the same building?" Jack asks Billy.

Elsewhere, Victoria receives a tempting offer. Details about it remain unknown. As for Phyllis, she struggles to keep distance from Billy. And Chloe is back and she continues to shock Genoa City residents. Victor finds support from Chloe.

In addition, She Knows has reported spoilers for "The Young and the Restless" (Y&R) episodes airing in the week of Aug. 1 - 5. According to the website, Nikki urges Victor to tell the truth and reveal his true motives behind his actions. Victor gets back in action and returns to Newman Enterprises.

As for Sharon, she will make a huge sacrifice. Phyllis and Nick join hands against Victor. And Jack is forced to choose sides. Lily has a plan against Hilary. Jill confronts Phyllis and Jill have a major showdown.

"The Young and the Restless" (Y&R) airs Monday through Friday on CBS. Stay tuned for more spoilers and updates.