WeWork India has increased its portfolio of office space in a deal to lease four offices for a total of 500,000 sq ft of spacein Mumbai and Bangalore. Unusually for the co-workspace operator, the leases are for an initial term of 10 years, with an option to extend to 20 years. The company is also looking at expanding into other cities across India. India arm has picked up 0.5 million sq ft office space in one of the largest deals by a co-working company. WeWork India, which launched in July 2017, currently has 15,000 desks across 11 centres, and has been aggressively acquiring properties as it seeks to expand its portfolio to 20 centres by the end of this year.
WeWork India has increased its portfolio of office space in a deal to lease four offices for a total of 500,000 sq ft of spacein Mumbai and Bangalore. Unusually for the co-workspace operator, the leases are for an initial term of 10 years, with an option to extend to 20 years. The company is also looking at expanding into other cities across India. WeWork India, which launched in July 2017, currently has 15,000 desks across 11 centres, and has been aggressively acquiring properties as it seeks to expand its portfolio to 20 centres by the end of this year.