WeWork expands India presence, adds two assets in Pune & Gurugram
WeWork India has expanded its presence in India by adding two new assets across Pune and Gurugram spread over 1, 83,000 sq ft. The HQ27 located in Gurugram’s MG Road market, offers over 96,000+ sq. ft. of sace across three with over 1,480+ desks. The property ahs a 15 years lease agreement with WeWork.The Pune property is Situated within Pune’s largest mall complex — Amanora Mall, Amanora Crest offers over 87,000 sq. ft. of workspace with around 1,700 desks under operator model.
“There has been a consistent uptick in office leasing, and flexible workspaces are leading the charge. As more organisations opt for hybrid work models, we expect the strong demand for flex spaces to continue rising. We are actively looking at adding new assets to our portfolio”, said Arnav S Gusain, Head of Real Estate, Product, and Procurement, WeWork India said.
WeWork has opened two new buildings since Jan 2024 totalling to 1.7 lakh sq ft and over 3800 desks with both having 5 years lease agreement. It has also forayed into the Chennai market with over 130,000 sq. ft. of space in Olympia Cyberspace, its eighth city in the country, to be opened in June.
The flexible co-working space provider, is in talks to raise Rs 1,000 crore from investors to buy back stake from WeWork Global, which recently filed for bankruptcy.
WeWork India is one of the fastest-growing affiliates of WeWork Inc. outside of the US, with WeWork Inc. owning a 27% stake in the company and the remaining 73% owned by Embassy Group.
The joint venture with WeWork Inc
