WeWork, Embassy open first co-working centre in Bengaluru
BENGALURU: New York-headquartered We Work, a collaborative workspace start-up, has entered India in a joint venture with Bengal ur u-based real estate firm Embassy Group. We Work( India) opened its first co-working centre in Bengaluru’s Residency Road this week and plans to open nine such centres in a year across three cities, including Mumbai and Delhi.
In the last year, many developers have diversified into the co-working space business as demand for office space remains high and start-ups look at more flexible, collaborative work spaces. SoftBank Group Corp. has invested $300 million in We Work Cos ., valuing the New York-based co-working giant at more than $17 billion, a 21 March Bloomberg report said.
Founded in 2010, We Work has more than 120,000 members worldwide and is present in 15 countries. Along with the launch of the Ben ga lu ru centre, We Work also launched its first centre in Sao Paolo, Brazil this week.
“We Work brings design, technology, brand and the sense of community building to the table,” said Karan Virwani,
LAST YEAR, DEVELOPERS DIVERSIFIED INTO THE COWORKING SPACE BUSINESS AS DEMAND FOR OFFICE SPACE REMAINS HIGH AND STARTUPS LOOK AT MORE FLEXIBLE
director, WeWork (India). “For WeWork, 2017 is a year of great expansion in the Asia-Pacific region, and we want to strengthen our communities here as we enter new markets. We’ll soon bring WeWork to Mumbai and Delhi as well,” said Ole Ruch, managing director, WeWork Asia-Pacific.
We Work Galaxy on Residency Road gives a variety of monthly membership plans starting at ₹9000 for a hot desk per person, ₹14,000 for a dedicated desk and ₹20,000 per person for a private office.
Real estate firm DLF Ltd recently signed a 30,000 sq ft. lease deal with Spaces, a brand of co-working space provider International Workplace Group( IWG) in the former’s business district Cybercity, Gurgaon.