Workspace provider WeWork India, in a bid to expand its presence in India, launches WeWork 37 Cunningham in Bengaluru and Galaxy Business Park in Noida. The new workspaces are set to open in September and October 2024 and plan to cater to the rising demand in the flexible workspace market in India.
The new additions come as both cities continue to evolve as a business hub for multinational companies from diverse industries, said Arnav S Gusain, Chief of Supply, WeWork India.
He added, “There is a clear demand for flexible workspaces that offer a dynamic work environment for enterprises, professionals, freelancers, and startups to connect and collaborate.”
WeWork 37 Cunningham in Bengaluru is a four-story workspace with over 1,000 desks spread across more than 60,000 square feet, per the company statement. Meanwhile, WeWork Galaxy Business Park in Noida’s Sector 62 is a two-floor facility sprawling 70,000 square feet and housing over 1,400 seats.
According to news reports, Wework India reported a revenue of ₹1,300 crore in the fiscal year ending March 2023. The major part of revenue came from office space at 72 per cent, totalling ₹942 crore in FY23, marking a 47.6 per cent increase. The office space lease company generated additional revenue from service fees and related services.