WeWork forays into commercial realty space in Pune

While foraying into Pune’s commercial realty market, US-based co-working operator WeWork has taken on lease over 1.22 lakh sq.ft of office space to launch its 24th centre in the country. The company has taken over Panchshil Realty's commercial project 'Panchshil Futura' in Pune. This new centre in Pune, to be launched early next month, will have a capacity of over 2,000 seats. Currently, WeWork has 23 co-working centres in India with a total capacity 39,000 seats spread over three million sq.ft area. It has 9 centres each in Bengaluru and Mumbai, while another 5 in Gurugram. Last year, WeWork India head Karan Virwani had said that the company offers desks starting from ₹7,000 and up to ₹40,000 per month, depending on the locations and facilities. The co-working segment in India has gathered momentum in the last few years. The segment contributes 15-20 percent of the total office space leasing. Other major players include Regus, CoWrks, Awfis, Smartworks, GoWork, Skootr, Innov8, IndiQube, Avanta, 91 Springboard Creator's Gurukul, GoHive and OneCulture, and Plus Offices.