WeWork sells control of China unit to Trustbridge Partners, Real Estate News, ET RealEstate

BENGALURU | SHANGHAI: U.S. office-sharing firm WeWork on Thursday said it will sell control of its China division to one of its investors – private equity firm Trustbridge Partners – as it steps back from a competitive market where it has suffered low-occupancy rates. The deal effectively offloads the China unit away from the parent, […]

Co-working spaces gain momentum in Sector V, Real Estate News, ET RealEstate

File photo KOLKATA: Small- to medium-sized warehouses and co-working spaces are suddenly the rage in the Sector V IT hub of Salt Lake owing to the pandemic, which has made WFH the new normal and forced IT firms and private companies to do away with expensive — and expansive — office spaces. While smaller startups […]

Coronavirus-fueled uncertainty could accelerate consolidation of flexible office spaces, Real Estate News, ET RealEstate

BENGALURU: The flexible office space is expected to undergo a major consolidation phase with uncertainty looming large on the segment due to the Covid-19 pandemic and a resultant demand slump. While a large operator like RMZ is exiting the business, global major WeWork plans to expand as per client specifications only for some time. Awfis […]

Co-working operators start witnessing fresh demand after five months, Real Estate News, ET RealEstate

NEW DELHI: Co-working and managed workspace operators have started witnessing fresh demand after a five month disruption due to Covid-19 pandemic as leading co-working players have reported reaching 50 per cent fresh leasing levels in July compared to the monthly average during the pre-Covid times. Covid induced lockdown had impacted the co-working operators the most […]

WeWork India provides 15,700 sq ft office space in Bengaluru to Khaitan & Co, Real Estate News, ET RealEstate

NEW DELHI: Co-working major WeWork India, which is owned by the Embassy Group, has provided nearly 15,700 sq ft of office space in Bengaluru to leading law firm Khaitan & Co. Khaitan & Co will be setting up operations in WeWork centre at Embassy Quest in Bengaluru. The law firm has taken up 300 desks […]

Co-working spaces find few takers in Covid-19 times, Real Estate News, ET RealEstate

INDORE: Hit hard by Covid-19 slump, around 30 per cent co-working spaces in Indore, an emerging hub for startups and IT companies, have shut down shops while the rest have witnessed a sharp decline in customers forcing many to explore new survival plans and switching to virtual assistance. As social distancing became a mandate for […]

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