Doubling down on their commitment towards long-term sustainable growth and expansion, WeWork India, the leading and largest office space provider in India, announced their entry into Chennai. By leasing over 130,000+ sq. ft. of space in Olympia Cyberspace, this marks WeWork India’s expansion into the eighth city in the country.
This upcoming opening is indicative of the growing demand for flexible workspaces in India, and WeWork India's commitment to meeting the rising demand. With 54 locations, and over 90,000+ desks across seven cities, WeWork India’s entry into Chennai marks a strategic move to further strengthen their presence. The leading flexible workspace provider currently has a strong foothold in the southern region, with 27 locations and over 44,500+ desks across Bengaluru and Hyderabad.
With multiple emerging and fast-growing micro-markets such as Old Mahabalipuram Road and Porur, Chennai is witnessing a surge in demand for real estate and flexible workspaces. Nestled between Guindy and Saidapet, Olympia Cyberspace is strategically located at the entry point to Central Chennai. Spanning across two floors, and housing over 2000 desks, the building will offer convenient access to airport, metro, and hotels. Scheduled to open in early June 2024, this dynamic workspace is equipped with an array of amenities, including event spaces, wellness rooms, F&B markets, and quiet spaces among others. WeWork India’s latest addition to the portfolio is centrally located with key landmarks such as Guindy metro & railway station, Saidapet metro station, Madras Gymkhana Golf Annexe, Guindy National Park, Hilton Chennai, Madras Race Club, all situated within five-six kilometres radius.
Commenting on the new market entry, Karan Virwani, CEO, WeWork India, said, “We are thrilled to open our first flexible workspace in Chennai, a city known for its vibrant culture, urban population, and rapidly growing business ecosystem. We are witnessing a continued surge in demand for flexible workspaces across India, and an increased interest from IPCs and members for the Chennai market. As organisations rapidly return to work, there is a growing need for flexible and customisable workspaces that can facilitate hybrid or full-time work models. Today, WeWork India is at the forefront of providing businesses with cutting-edge, flexible workspace solutions for businesses of all sizes and stages. With a strong pipeline of deals, we are excited to expand our presence into Chennai, with a focus on creating a range of custom solutions suited for diverse businesses.”
Speaking about the collaboration, Chandrakant Kankaria, Joint MD, Olympia Group, said, “We are thrilled to partner with WeWork India as they open their first building in Chennai. Olympia Cyberspace is a perfect blend of commercial and retail space, featuring a fusion of modern architecture and the dynamic energy of the city. The lower level is structured in a way that the breeze enters from below, ensuring cross-ventilation across the space, along with lots of natural light. The building is strategically located near the metro station, parks, hotels and F&B hubs. We are delighted to have WeWork India in Olympia Cyberspace, and are confident that they will further elevate and redefine the flexible workspace sector in the city.”
WeWork India's ongoing expansion across cities underscores their reliability as a brand and robust relationships with key stakeholders such as landlords, IPCs, and members. They recently launched WeWork Workplace; a tech enhanced space management tool designed to help organisations bring hybrid strategy to life. Through a commitment to innovation and tailored product solutions, WeWork India is poised to sustain its growth trajectory, further reshaping the flexible workspace landscape in the country. With solutions for all kinds of businesses - solopreneurs to startups to Fortune 500 companies - WeWork India is at the forefront of the flexible workspace industry, and Chennai is poised to benefit from their entry into the market.
