As a part of its expansion plan, co-working major WeWork India has taken on lease 3,62,000 sq ft office space in the city amid rising demand for flexible workspace.
Story so far: In 2017, WeWork Global announced its partnership with the Embassy Group. WeWork India currently has over 5 million square feet of office space across Delhi-NCR, Mumbai, Bengaluru, Pune and Hyderabad. It announced in a statement that it has taken on lease 3.1 lakh square feet at Kalyani Roshni Tech Hub and 52,000 square feet at Embassy One.
- The Kalyani Roshni Tech Hub, located on Outer Ring Road, houses over 5,000 desks that cover eight floors.
- The Embassy One building, located on Bellary Road, offers 600 desks across two floors.
Gross office space leasing: Colliers India highlighted that the gross office space leasing in January-September this year rose 97% to 40.6 million square feet in India from 20.6 million square feet last year. The report also said that office space may rise to 50 million square feet in 2022.