WeWork-CBA seals office space deal Bengaluru

WeWork India is all set to seal a 2,400 seats office deal with Commonwealth Bank of Australia at WeWork's Manyata tech park facility in Bengaluru. The workspace will be fully equipped by WeWork and has a 4 years lock-in period, said sources, adding that the Commonwealth Bank of Australia went live with Tata Consultancy Services, BaNCS platform in 2010 with its first Indian branch in Mumbai. The new office space at WeWork will function as shared services centre for CBA Services India catering to US, Australia and Asian markets. Last year, Commonwealth Bank of Australia appointed industry veteran Pankajam Sridevi as MD India to scale up business. Separately, WeWork India is reviewing and modifying spaces in common areas and conference rooms at its properties to ensure social distancing norms. The company is ensuring a minimum of 6ft distance between two people across its properties. WeWork India, a fully-owned subsidiary of Embassy Group, had earlier plans to raise $200 million (about ₹1,421 crore) to expand its India operations. The company currently has 40,000 members and 57,000 desks across 34 locations. Since the launch of the American shared workspaces provider in India, the Bengaluru-based Embassy Group has invested ₹1,500 crore in the WeWork affiliate. It currently operates desks across the top six markets in the country, including Bengaluru, Gurgaon and Mumbai.