WeWork India raises Rs 200 crore – ET RealEstate

NEW DELHI: WeWork India has raised Rs 200 crore from investors, through a mix of debt and equity, the company said in a media release. Karan Virwani, CEO, WeWork India, said, “The new capital we have raised will help us in continuing our upwards momentum and truly explore the potential of flexible workspaces in the […]

WeWork’s plan to go public unlikely to hit India operations – ET RealEstate

BENGALURU: WeWork’s plan to go public by merging with BowX, a special purpose acquisition company (SPAC), is unlikely to impact its operations in India, the company said. Just like in China and Japan, the office space company’s operations in India are franchised to third parties, in this case, property developer Embassy Group. WeWork has a […]

WeWork takes SPAC route to go public in $9 billion deal – ET RealEstate

BENGALURU | BOSTON | NEW YORK: WeWork said on Friday it has agreed to go public through a merger with blank-check firm BowX Acquisition Corp, enabling the office-sharing company to complete a stock market listing two years after its failed first attempt. The merger with BowX, a special purpose acquisition company (SPAC), values WeWork at […]

Flexible workspaces to lease three million sq ft of space in 2021: Report – ET RealEstate

NEW DELHI: During 2021, flexible workspace operators are likely to lease about 3 million sq ft of space across the top six Indian cities, as operators are likely to focus on signing large enterprise-level deals and cut down on speculative centers, according to a recent report by Colliers India. During 2020, flexible workspace operators leased […]

Office space provider IWG to shut more underperforming centres – ET RealEstate

BENGALURU: Office space provider IWG on Tuesday signalled that it will shut more underperforming centres as the market recovery from the coronavirus pandemic was taking longer than anticipated, but said it was seeing increased demand for hybrid work. The pandemic has caused a radical change in the office space sector as employers opt for shorter […]

Smartworks leases 2.5 lakh sq ft in Hyderabad’s Aurobindo Galaxy – ET RealEstate

NEW DELHI: Smartworks, a homegrown co-working startup, has leased 2,50,000 square feet in Hyderabad’s Aurobindo Galaxy, taking its total operational space in the city to 4 lakh square feet, a senior executive of the company said on Tuesday. This, at a time demand for flexible office spaces has risen after pandemic-induced lockdowns. Companies are weighing […]

SoftBank reaches settlement with former WeWork CEO Adam Neumann – ET RealEstate

File photo BENGALURU: SoftBank Group Corp said on Friday it has reached a settlement with WeWork‘s special committee and the company’s co-founder and former chief executive, Adam Neumann, putting to rest a legal battle dating back to 2019. SoftBank, the new owner of the office-sharing firm, did not disclose terms of the settlement. Media reports […]

Co-working spaces see 80% demand recovery – ET RealEstate

BENGALURU: Co-working companies are seeing a revival in interest after a pandemic-hit year as some companies — mostly small and medium enterprises — slowly bring some employees back to office. Occupancies in the first two months this year have been about 80% of the year-ago period, while average occupancy is about 50%. Companies say that […]

315Work Avenue leases around one lakh sq ft workspace in Bengaluru – ET RealEstate

File photo BENGALURU: Coworking space provider 315Work Avenue has taken a total of around one lakh sq ft of office space on lease here to set up two new centres as it sees strong traction from large enterprises post the lockdown. These 2 Grade-A office space centres located at Koramangalaand Old Madras roadwill have around […]

From conflict to co-working, Libyan youths share space – ET RealEstate

TRIPOLI: For those needing space to do business in Libya, a country beset by frequent blackouts and internet cuts after a decade of war, co-working has become increasingly popular. Overcoming both restrictions to stem the coronavirus pandemic and the conflicts that have riven the oil-rich North African nation since the 2011 uprising that ousted long-time […]