WeWork, Em­bassy open first co-work­ing cen­tre in Bengaluru

HT Estates - - FRONT PAGE - Mad­hurima Nandy mad­[email protected]

BENGALURU: NewYork-head­quar­tered WeWork, a col­lab­o­ra­tive workspaces­tart-up, has en­tered In­dia in ajoint ven­ture­with­Ben­galuru-based real es­tate firm Em­bassyGroup. WeWork(In­dia) opened­its­firstco-work­ing­cen­tre in Bengaluru’s Res­i­dency Road this week and plans to open nine such cen­tres in a year across three cities, in­clud­ing Mumbai and Delhi.

In­the­last year, many­de­vel­op­ers 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 WeWork Cos., valu­ingth­eNewYork-based co-work­ing­giantat­morethan$17 bil­lion, a 21 March Bloomberg report said. Founded in 2010, WeWork has more than 120,000 mem­bers world­wide and is present in 15 coun­tries. Along with­the­laun­choftheBen­galuru cen­tre, WeWorkalso­launched­its first cen­tre in Sao Paolo, Brazil this week.

“WeWork­brings­de­sign, tech­nol­ogy, brand and the sense of com­mu­nity build­ing to the ta­ble,” said Karan Vir­wani, 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.

WeWorkGalaxy­onRes­i­dency 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 re­centlysigneda30,000sqft. lease deal with Spa­ces, a brand of co-work­ingspace­providerIn­ter­na­tion­alWork­placeGroup(IWG) in the for­mer’s busi­ness district Cy­bercity, Gur­gaon.

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