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WeWork India leases 1.22 lakh sq ft from Panchshil Realty in Pune

Posted by Urban Avenues on August 16, 2019
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This new centre in Pune, expected to be launched early next month, will have a capacity of over 2,000 seats, they added.

NEW DELHI: US-based co-working operator WeWork is expanding its India business and foraying into Pune market where it has taken on lease over 1.22 lakh sq ft office space to launch 24th centre in the country. According to sources, WeWork has taken 1,22,165 sq ft office space in Panchshil Realty’s commercial project ‘Panchshil Futura’ in Pune, Maharashtra.

This new centre in Pune, expected to be launched early next month, will have a capacity of over 2,000 seats, they added.

At present, WeWork has 23 co-working centres in India with a total capacity 39,000 seats spread over three million sq ft area. It has 9 centres each in Bengaluru and Mumbai, while another 5 in Gurugram, Haryana.

When contacted, spokesperson of WeWork India declined to comment. A spokesperson of JLL India, which facilitated this leasing transaction, too declined to comment.

Last year, WeWork India head Karan Virwani had said that the company offers desks starting from Rs 7,000 and up to Rs 40,000 per month depending on the locations and facilities. He had also mentioned that all of WeWork’s centres in India are profitable.

The co-working segment in India has gained momentum in last few years. Already, this segment contributes 15-20 per cent of the total office space leasing.

 

News Linkhttps://realty.economictimes.indiatimes.com/news/commercial/wework-india-leases-1-22-lakh-sq-ft-from-panchshil-realty-in-pune/70694590

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