Co-working major WeWork India has forayed into the national capital by taking on lease 54,000 sq ft office space from realty firm Eldeco to open a facility.
Bengaluru-based WeWork India in a statement said that it has taken on lease over 54,000 square feet of space at 'Eldeco Centre', a premium office building by Eldeco in South Delhi.
Set to open around August 2023, the newly built Eldeco Centre is located in close proximity to Malviya Nagar metro station.
WeWork India said it is expanding because of growing demand for flexible workspaces.
"The National Capital is a key area for business leading to a thriving demand for workspaces, thus making it an extremely coveted expansion for WeWork India," the company said.
With a total of 9 locations across Noida and Gurgaon, the new lease agreement marks a strategic move to strengthen WeWork India's presence in Delhi NCR region with yet another asset-light structure.
Arnav S Gusain, Head of Real Estate & Product, WeWork India, said the office sector in India has seen a steady recovery post the pandemic and Delhi has been among the key cities that have dominated the flex space growth.
"With an escalating need for flexible workspaces that are customisable and delightful, WeWork India is all set to strengthen its presence in Delhi NCR and tap into a very key city with ELDECO Centre," he added.
Pankaj Bajaj, Chairman of Eldeco Group said, "Eldeco Centre is our new upmarket office building in the heart of South Delhi offering a perfect blend of world-class office spaces and eclectic F&B brands." Global coworking major WeWork entered India in 2017.
WeWork India is one of the largest office space providers, aimed at creating flexible workspace solutions for companies of all sizes.
WeWork India has over 6.5 million square feet of assets signed across 45 locations in NCR, Mumbai, Bengaluru, Pune and Hyderabad.
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