WeWork, Embassy open first co-working centre in Bengaluru
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.