WeWork India adds 2 buildings with over 4K desks in Bengaluru, Hyderabad

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Even as its global entity has filed for bankruptcy, WeWork India is expanding its footprint in India by signing lease agreements for two new buildings, one each in Bengaluru and Hyderabad. The two buildings cumulatively will add over 4,000 desks to the company’s portfolio.


WeWork India’s new agreement spans cumulatively across about 2,72,000 sq ft and is located in the tech hubs of the individual cities. These buildings are set to open in the next few months.


“We are witnessing a continued surge in demand for flexible workspaces across India. As more and more employees across organisations are coming back to the offices, we are proud to further expand our presence in these IT hubs. With the addition of Manyata Redwood and RMZ Spire, we are reaffirming our commitment to providing businesses with cutting-edge, flexible workspace solutions. We are focused on meeting the industry’s increasing demands through a superior workspace experience, built upon WeWork India’s principles of flexibility and community,” said Arnav S Gusain, head of Real Estate, Product, and Procurement, WeWork India.


Spanning three floors, Manyata Redwood is located within the Manyata Tech Park in Bengaluru and offers a workspace of over 117,000 sq ft, accommodating over 1,700 desks. WeWork India’s flagship property in Hyderabad, RMZ Spire in HITEC City, is spread approximately across 154,000 square feet with four floors, accommodating nearly 2,220 desks.


WeWork India said it is further expanding into these micro-markets after witnessing significant success for their offerings in these markets. Both buildings will be equipped with an array of modern amenities, including a community bar, conference rooms, phone booths, pantry, food & beverages market, mother’s room, and game room.


Earlier this month, WeWork Inc., the parent company, filed for bankruptcy under Chapter 11 of the US Code in New Jersey. However, Karan Virwani, chief executive officer of WeWork India, has maintained that the Indian entity, backed by the Embassy Group, is a separate entity in itself and not part of the global strategic reorganisation process. “Any development globally has no bearing on the operations of the business. In India, we will continue to operate and serve our members, landlords, and partners as usual,” he said.


On the contrary, legal experts expressed their concerns following the global entity’s bankruptcy filing. “WeWork Inc.’s bankruptcy might impact WeWork India’s reputation and how the market perceives it. Additionally, if there are undisclosed shared resources or dependencies between the two entities, this could pose challenges,” said Jitender Ahlawat, founder and managing partner, HJA & Associates LLP.


Commenced in 2017, WeWork India has over 6.5 million square feet of office space across 50 locations in New Delhi, Gurugram, Noida, Mumbai, Bengaluru, Pune, and Hyderabad, at present. WeWork India is targeting long-term revenue growth of 40-50 per cent during the current financial year.