We­Work, Em­bassy open first co-work­ing cen­tre in Bengaluru

Hindustan Times (Chandigarh) - Estates - - FRONT PAGE - Mad­hurima Nandy mad­hurima.n@livemint.com n

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.

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