by THO
WeWork India today announced its entry into Chennai. The co-working major has leased over 1.3 lakh sq ft of space in a commercial building Olympia Cyberspace developed by Olympia Group.
The facility spans across two floors and has a capacity of over 2000 desks. It is scheduled to open in early June 2024.
The facility is indicative of the growing demand for flexible workspaces in India, and WeWork India’s commitment to meeting the rising demand, the company said in a statement.
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With 54 locations, and over 90,000 desks across seven cities, WeWork India’s entry into Chennai marks a strategic move to further strengthen their presence. The leading flexible workspace provider currently has a strong foothold in the southern region, with 27 locations and over 44,500 desks across Bengaluru and Hyderabad, it said.
With multiple emerging and fast-growing micro-markets such as Old Mahabalipuram Road and Porur, Chennai is witnessing a surge in demand for real estate and flexible workspaces. Nestled between Guindy and Saidapet, Olympia Cyberspace is strategically located at the entry point to Central Chennai.
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“We are thrilled to open our first flexible workspace in Chennai, a city known for its vibrant culture, urban population, and rapidly growing business ecosystem. We are witnessing a continued surge in demand for flexible workspaces across India, and an increased interest from IPCs and members for the Chennai market. As organisations rapidly return to work, there is a growing need for flexible and customisable workspaces that can facilitate hybrid or full-time work models,” said Karan Virwani, CEO, WeWork India.
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Chandrakant Kankaria, Joint MD, Olympia Group, said, “We are thrilled to partner with WeWork India as they open their first building in Chennai. Olympia Cyberspace is a perfect blend of commercial and retail space, featuring a fusion of modern architecture and the dynamic energy of the city.”
Since entering the Indian market in 2017, WeWork India has been spearheading the concept of flexible workspaces and driving the future of work with over 8 million sq. ft of assets signed across 54 locations in New Delhi, Gurugram, Noida, Mumbai, Bengaluru, Pune and Hyderabad.
