WeWork to expand footprint in Chennai

Virwani says that post Covid-19, co-working space is now getting adopted by many firms.
The launch of the office space in Chennai comes as the city office space recorded 1.8 million sq.ft absorption in January to March
The launch of the office space in Chennai comes as the city office space recorded 1.8 million sq.ft absorption in January to March(Photo | AP)

CHENNAI: After opening an office space in Olympia Cyberspace in Guindy previously, co-working major WeWork India, one of the largest office space providers, has now decided to expand its footprints in Chennai. Three to five locations are being explored for this purpose.

Karan Virwani, CEO, WeWork India, told reporters that the co-working space company is planning to open another office in DLF Cybercity in Porur by December next year. Stating that the company plans to spend Rs 300 crore (capex) annually by adding two million sq.ft of office space each year (in the next four years) in seven cities, he said the co-working space at Chennai spans across over 1,30,000 sq.ft and 2,000 seats across two floors.

The launch of the office space in Chennai comes as the city office space recorded 1.8 million sq.ft absorption in January to March, which was driven by flexible space operators, banking and financial services and technology driven absorption.

“Chennai has emerged as a thriving business landscape among freelancers, entrepreneurs, enterprises as well as Global Capability Centres. There is a strong demand being witnessed from various industries including agri-tech, manufacturing, IT/ITES/ HR, among others. With the opening of Olympia Cyberspace, WeWork India aims to provide innovative and collaborative work environments to meet the rising demand for flexible workspace solutions,” he added.

Virwani says that post Covid-19, co-working space is now getting adopted by many firms.

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