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WeWork expands India operations

PTI New Delhi | Updated on November 01, 2019 Published on November 01, 2019

WeWork has 528 locations in over 111 cities and 29 countries   -  Bloomberg

Co-working space provider sets up new centre in Gurugram

WeWork India, which is owned by realty firm Embassy group, on Friday said it has set up a new co-working centre in Gurugram with 1,351 seats as part of its expansion plan.

Last month, WeWork India announced that it would raise $200 million (around ₹1,400 crore) by December to expand business and expects to be profitable at the entity level in one year.

WeWork India has taken on lease nearly 85,000 sq ft area in Vi-John Tower at Gurugram to establish this facility.

This is the 28th co-working centre of WeWork India, taking its total capacity to over 47,000 desks across the national capital region, Mumbai, Bengaluru and Pune.

The company will provide seats in a price range of ₹6,000-14,000 in this new co-working centre, which has been tailored for homegrown, traditional Indian business and enterprises of all sizes.

Customised workspace

To cater to the operational requirements by the traditional businesses in India, WeWork India inaugurated the first customised workspace in Mumbai earlier this year, and is now adding this new workspace to meet the increasing demand.

“This new location targets Indian businesses of all sizes to help them move out of their traditional offices to an environment that inspires creativity and promotes productivity,” said Karan Virwani, Co-CWeO of WeWork India.

Last month, Virwani had asserted that there would be no impact on the Indian operation due to deferment of public issue of US-based WeWork.

“There is lot of speculation about WeWork India business. We still believe in the WeWork brand. India business is really growing well. Embassy Group is bullish about the co-working sector and we continue to expand,” he had said in an interview.

As of Q2 2019, WeWork has 528 locations in over 111 cities and 29 countries.

Published on November 01, 2019
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