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In pursuit of its enduring commitment to long-term growth and expansion, WeWork India, the foremost flexible workspace provider in the country, has officially finalized lease agreements for two new properties—Manyata Redwood in Bengaluru and RMZ Spire in Hyderabad. These strategically positioned buildings, slated to commence operations in the ensuing months, are situated in thriving tech hubs, poised to redefine the workspace experience for professionals and businesses. WeWork India's collaboration with these esteemed landlords solidifies its standing as the leading flexible workspace provider in the market. Manyata Redwood, spanning three floors within Bengaluru's vibrant Manyata Tech Park, offers an expansive workspace of over 117,000 square feet., accommodating more than 1,700 desks. Ideally located and well-connected through the Outer Ring Road, it provides facile access via the Baiyappanahalli Metro Station. Various dining and recreational venues, such as the Hilton, a food court, an amphitheater, and an outdoor sports zone, encircle the building. It is strategically positioned for success, following WeWork India's significant achievements in these markets. Both properties will be outfitted with contemporary amenities, including a community bar, conference rooms, phone booths, pantry, F&B market, mother’s room, and game room. RMZ Spire, WeWork India’s flagship property in Hyderabad's HITEC City, sprawls across approximately 154,000 square feet with four floors, accommodating nearly 2,220 desks. Nestled within Hyderabad's IT corridor, it offers seamless connectivity to key landmarks in the city. WeWork India's ongoing expansion with Manyata Redwood and RMZ Spire underscores its brand reliability and reflects strong relationships with stakeholders, including landlords, IPCs, and members. By propelling innovation through customized product solutions, WeWork India remains on an upward growth trajectory, reshaping the landscape of flexible workspaces in the country. Notably, the recent Chapter 11 filing by the SoftBank Group-backed co-working space provider does not impact WeWork India's operations. Since establishing its presence in the Indian market in 2017, WeWork India has seen substantial growth, expanding its office space portfolio to over 6.5 million square feet across 50 locations in major cities like New Delhi, Gurugram, Noida, Mumbai, Bengaluru, Pune, and Hyderabad. A recent report by real estate consultant Vestian, titled 'Flexing the Workspace-Back to Office,' emphasizes the extensive availability of over 7.6 lakh seats provided by flexible space operators across more than 1,000 centres in India. The top 10 players in this sector collectively hold an 84 percent share of the total flexible office space portfolio, covering various offerings such as dedicated desks, hot desks, co-working spaces, as well as serviced and managed offices.
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