After achieving much appreciation in the commercial property market of Bengaluru, Mumbai, and Gurugram, WeWork India is now foraying into the Noida realty market by opening three coworking spaces with nearly 3,900 seats.
The group which is owned by the real estate firm Embassy Group has taken over 3 lakh sqft office space on lease in Noida. The information which was floated by the company sources revealed that the group has leased nearly 1.4 lakh sqft areas from Berger Group, around 92,000 sqft from Advant India and 74,000 sqft from Logix group in Noida.
Giving more information on the same, a company spokesperson said, “In the last few years, we have seen an aggressive demand for coworking spaces in Noida. The main reason behind this is due to their flexible lease terms, lower deposit requirements; overall cost reduction as well as plug-and-play facility. That’s why we decided to step into this region.”
Sunil Sharma, Managing Director, Advant India, on collaborating with WeWork India said, “We are very happy to announce our partnership with WeWork India. The demand for coworking space is growing at a fast rate in Noida due to the presence of many startups, freelancers and mid-segment offices.”
WeWork India is an independent entity with the right to execute its business in India. Currently, it has 26 operational coworking spaces with 46,000 seating capacity across various cities. It has 10 centers in Mumbai, 9 in Bengaluru, 6 in Gurugram and 1 in Pune. The price of the seats hovers from Rs 5,000 to Rs 40,000 per desk per month depending on the services. The group, at present, is also focusing on expansion plans in other cities.