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WeWork India has leased 1.26 lakh sq ft across three floors in the Lightbridge commercial tower, Andheri East, Mumbai, with operations commencing in August 2025. The INR 1.38 crore monthly rental over the five-year lease underscores WeWork's strategic expansion in flexible workspaces amid rising demand for hybrid work models. The Lightbridge tower, a joint project by Gamma Constructions and Srishti Group, highlights the sector's resilience, with flexible operators accounting for 20% of new leases in India. WeWork's portfolio now spans over 8 million sq ft across 62 locations, cementing its role in reshaping India's commercial real estate market.
WeWork India has secured a significant office space in Mumbai, adding to its growing portfolio of flexible workspaces. The company has signed a long-term lease for 1.26 lakh square feet across three floors in the Lightbridge commercial tower located in Andheri East. This new space, which spans the 6th, 7th, and 8th floors, is part of WeWork's strategy to adapt to changing work environments and meet the demand for flexible office solutions. Advertisement
The lease agreement, which will commence in August 2025, involves a monthly rental of over INR 1.38 crore, amounting to a total payout exceeding INR 87 crore over the lease term of more than five years. This move comes after WeWork India exited a previous location in Powai, indicating a strategic shift to better accommodate its clients in the rapidly evolving commercial real estate market.
The Lightbridge tower is a joint project by Gamma Constructions and the Srishti Group, with completion expected in the coming months. The partnership underscores the trend of collaboration in the real estate sector to meet the increasing demand for commercial spaces. Niranjan Hiranandani, Chairman of the Hiranandani Group, noted that the commercial real estate market in India has remained strong, with flexible workspace providers like WeWork playing a crucial role in this growth. He highlighted that flexible operators now account for 20% of new commercial space leases in India, reflecting a significant shift in how businesses approach office space.
WeWork India's expansion is not limited to Mumbai. In recent months, the company has also renewed leases and secured additional spaces in other major cities. In July, it renewed a lease for 1.4 lakh square feet at the Nesco IT Park in Goregaon, and shortly before that, it added two new locations in Bengaluru and Noida, bringing its total leased space to over 8 million square feet across 62 locations in India. This expansion is largely driven by the increasing demand for managed office solutions from both large corporations and startups, particularly in the wake of the COVID-19 pandemic.
The rise of flexible workspaces in India can be attributed to several factors. Many companies are now opting for hybrid work models, blending remote and in-office work. This shift has created a demand for adaptable office solutions that can quickly respond to changing workforce needs. Furthermore, with the Indian economy showing signs of recovery and growth, businesses are looking for cost-effective and flexible workspace options to support their operations.
As WeWork continues to grow, it reflects broader trends in the commercial real estate market. The demand for flexible office spaces is expected to remain strong, driven by ongoing changes in work culture and the need for businesses to remain agile in a competitive landscape. With its recent lease in Mumbai and ongoing expansions, WeWork India is well-positioned to capitalise on these trends and meet the evolving needs of its clients across the country.
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