WeWork India takes on lease 1 lakh sq ft office space in Hyderabad to expand business

Coworking major WeWork India has taken on lease over 1 lakh square feet office space in Hyderabad to open a new centre with a capacity of 1,500 desks.

WeWork India said in a statement that it has signed a new workspace at Raheja Mindspace in Hyderabad which is spread over 1 lakh+ square feet with a desk capacity of more than 1,500.

The new centre, located in IT hub Madhapur, will open in August, 2023.

Global coworking major WeWork entered India in 2017.

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WeWork India, promoted by realty firm Embassy Group and WeWork Global, has a portfolio of over 6.5 million square feet of assets signed across 45 locations in Delhi-NCR, Mumbai, Bengaluru, Pune and Hyderabad.

Earlier this month, WeWork India had announced that it has taken on lease 2.2 lakh square feet office space in Bengaluru to open three new centres with a cumulative capacity of 3,600 desks.

WeWork India's revenue rose 70 per cent to around Rs 1,300 crore last calendar year on rising demand for flexible office space.

Coworking operators takes office space from realty firms and individual property owners on lease model and then provide workspace to corporates and individuals.