WeWork, the New-York based shared space provider, has expanded its operations in India by launching a 1.9 lakh sq ft of co-working space in BKC, Mumbai.
This marks the company’s second co-working centre in India. Earlier this year, the company launched its operations in India with its first co-working space in Bengaluru.
The centre in Mumbai will have 1900+ seats and will offer three types of memberships — hot desks, dedicated desks, and private offices with price range varying from ₹18,000 to ₹40,200 per month. It is aiming for 100% occupancy at the centre by end of 2017.
Commenting on this, Karan Virwani, director of WeWork (India) said,
The sharing economy trend in India is gaining traction as more consumers, particularly urban millennials, are finding it convenient and cost-effective. Thus, we need a collaborative workspace that resonates well with the millennial workforce. WeWork is the first brand in the world that adopted a different approach to traditional workspaces. Our locations will help companies of all sizes with the opportunity to collaborate through refreshing design, engaging community, and added benefits. Today we are not only building workspaces, but enabling entrepreneurial stories in India.
Juggy Marwaha, Lead – WeWork (India), said,
During the last year WeWork’s enterprise members grew by 91%. In Mumbai, we have already signed two new locations set to open in the first quarter of 2018 and have plans to open 12-15 locations over the next 12-18 months.
WeWork, which launched in 2010, today has offices in around 190 locations globally. The company says that it is adding approximately 10 to 15 new locations per month, all over the world.
In India, WeWork competes against a few co-working space providers, such as Y Combinator-backed Innov8, which recently launched a 10,000 sq.ft co-working space in Mumbai. It also competes with 91springboard, Bombay Connect, Garage, IShareSpce, Awfis, among others.