New York-headquartered collaborative workspace firm WeWork’s India arm has leased over 4 lakh office space in Bengaluru and Mumbai to expand its operations.
The facilities will be spread across three locations in Bengaluru and Mumbai. The addition of new office space will see the co-working operator add over 6000 desks to existing 35000 desks across major cities in the country.
“With our upcoming new locations, we continue to expand our physical footprint in the country by capturing varied locations,” said Arnav Singh Gusain, Head of Real Estate, WeWork India.
The company is also finalising a 3.8 lakh sft in Hyderabad to strengthen its presence in the southern geography.
WeWork is aiming to double the Co-working space, it offers in the country to 6 million square feet in 2019 and expand its presence to cities including Chennai, Pune and Hyderabad by the end of this year. “The country is undergoing a workspace culture shift and there is an increasing demand for flexible and co-working spaces. Organisations today are actively looking to build an inclusive and innovation-driven work culture. We recognise this need and are expanding rapidly to come up with more spaces that inspire creativity, collaboration, and communication,” said Karan Virwani, CWeO, WeWork India.
Since it’s entry into India, WeWork have expanded to 21 locations with over 35,000 desks and 25,000 members, and are steadily expanding footprint across the country.
“We continue to look for opportunities to create an impact with new buildings and spaces, which will benefit both the community and the economy,” he said.
According to Cushman and Wakefield agiel workspaces account for about a fifth of office leasing in India. Total gross leasing volume in India touched almost 13 million sq ft during the first quarter of 2019, which is 1.45 times higher than the corresponding quarter of last year.