WeWork India enters Chennai, leasing 1.3 lakh square feet in Olympia Cyberspace, set to open in June 2024. This reflects the rising demand for flexible workspaces nationwide. With 54 locations and over 90,000 desks across seven cities, including a strong presence in southern India, WeWork is strategically strengthening its footprint. Olympia Cyberspace's prime location meets Chennai's growing real estate demand. Partnering with Olympia Group, this venture blends modern architecture with Chennai's dynamic energy. Since 2017, WeWork India has led the flexible workspace trend, spanning 8 million square feet across 54 locations nationwide.
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WeWork India took a significant step by announcing its expansion and entry into Chennai. The Olympia Group has leased a substantial 1.3 lakh square feet within its commercial complex, Olympia Cyberspace, to WeWork. Spanning across two floors, this state-of-the-art facility boasts a capacity exceeding 2000 desks and is set to open its doors in early June 2024. This development underscores the escalating demand for adaptable workspaces across India and underscores WeWork India's steadfast commitment to meeting this growing need.
With a network encompassing 54 locations and an impressive 90,000 desks spread across seven key cities, WeWork India's strategic entry into Chennai signifies a significant step towards consolidating its market presence. The company currently maintains a robust presence in the southern region, boasting 27 establishments and over 44,500 desks in Bengaluru and Hyderabad. Chennai, with its emerging micro-markets such as Old Mahabalipuram Road and Porur, is witnessing a surge in real estate demand, coupled with a rising demand for flexible workspaces.
Olympia Cyberspace, strategically situated between Guindy and Saidapet, occupies a prime position at the gateway to Central Chennai. Karan Virwani, CEO of WeWork India, emphasized their excitement at inaugurating their first flexible workspace in Chennai, a city known for its vibrant culture, growing urban population, and rapidly evolving commercial landscape. He highlighted the sustained increase in demand for flexible workspaces nationwide, particularly in the Chennai market.
Virwani stressed the need for adaptable, customizable workspaces capable of accommodating hybrid or full-time work models, especially as organizations transition back to conventional work settings. Chandrakant Kankaria, Joint Managing Director of Olympia Group, echoed Virwani's sentiments, expressing his excitement for the partnership with WeWork India for the launch of their maiden facility in Chennai. He described Olympia Cyberspace as a seamless blend of commercial and retail spaces, boasting modern architectural marvels infused with the vibrant energy characteristic of the city.
Since its launch in the Indian market in 2017, WeWork India has been leading the way in revolutionizing flexible workspaces, shaping the trajectory of the future of work. With an extensive portfolio spanning over 8 million square feet across 54 locations in New Delhi, Gurugram, Noida, Mumbai, Bengaluru, Pune, and Hyderabad, WeWork India continues to redefine modern workspaces across the nation.
With its commitment to meeting the evolving needs of businesses and professionals, WeWork India continues to lead the way in redefining modern work environments.
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