WeWork Targets To Double Coworking Space In Next Year

WeWork is a New York-based workspace company and it aims to double the co-working space upto 6 million square feet in India by expanding its presence in major cities of the country like Pune, Chennai and Hyderabad.

At present, the company is having 3 million sq. ft. office space in three major cities of India that are Bengaluru, Mumbai and Gurgaon.

Karan Virwani, chief WeWork executive officer, WeWork India said that here we marked our debut this year with more than 5,000 desks and now on the year closing we are holding 35,000 desks in 21 locations. The company has 20,000 members in India are we are selling 2,000 desks a month.

The WeWork group ventured into the Indian property market in the year 2017 in a collaborative manner with the Bengaluru-based real estate developer Embassy Group. Soon the company started their operation in July 2017, by acquiring its first co-working office space covering 400,000 sq.ft. area on the Embassy’s Residency Road building in Bengaluru.

The CEO India Virwani said that WeWork to the company’s global business, India contributed 10% this year and is averaging occupancy of more than 95% for buildings that are open for a period of six months. He also said that the company has grown exceptionally in the past one year and we are focusing a lot on the Indian property market.

This year, the company expanded at 18 locations in National Capital Region, Mumbai and Bengaluru areas. Virwani also said that the WeWork have globally enterprise members at 30% and in India, the ratio for the same is 52 percent.

The company offers dedicated working space, services and community to support over 1,000 startups in 33 locations of 17 cities in 10 countries.

Also, the WeWork firm is the largest private occupier of office space in Manhattan, London and Washington, D.C. in 26 countries with 400,000 members.

In the current year, the company marked its presence in eight new countries, 34 new cities and 200 new locations.