HYDERABAD: Co-Working office space platform WeWork began its Hyderabad operations, opening two collaborative workspaces offering 7,000 desks on Tuesday.
The company now has presence in Bengaluru, Mumbai, Gurgaon, Noida and Pune, and handles a combined 4.45 million sqft space, translating to a seating capacity of over 54,000. It started India operations in 2017, in partnership with the Embassy Group.
Currently, WeWork has 25 per cent share in 20 million sqft co-working space market in India and among the enterprise customers, about 65 per cent are Indian and others from the US and other countries. “India is one of the fastest growing economies. The country is home to start-ups, large enterprises and SMEs that are experiencing rapid growth.
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We will expand in India to meet the needs of people and companies looking to expand their base in a work environment that leads to collaboration, productivity and innovation,” said Ryan Bennett, co- CEO, WeWork India.
According to Karan Virwani, CEO, WeWork India, Hyderabad saw an impressive growth with net office absorption, multiplying almost four times compared to the same period last year.
“We see huge potential in the city for a collaborative space like WeWork. Over the last few years, Hyderabad has witnessed rapid growth in the entrepreneurial ecosystem and the government’s committed investment in driving innovation,” said Jayesh Ranjan, secretary (IT) in Telangana government.