WeWork India eyes 400,000 sq ft in Delhi

30 Aug 2024 , 12:16 PM

As part of an aggressive expansion plan in Delhi-NCR, flexible office space provider WeWork India is in talks to lease approximately 400,000 sq ft across three buildings in Delhi and Gurgaon, according to news reports.

In addition to 140,000 at DLF’s Cyber City in Gurgaon, the company is receiving 148,000 at Prestige Trade Tower and 115,000 at Bharti Worldmark 6 at Delhi’s Aerocity.

Global corporations are showing a lot of interest in Aerocity, and flexible workspace providers are pre-purchasing space to meet demand. Office leasing in the NCR has generally increased and is gaining traction with occupiers.

The pace has risen because some sizable office buildings are scheduled for delivery within the next 12 months, according to Vibhor Jain, managing director of Cushman & Wakefield’s north India.

The first commercial building in the city by Prestige Group is the Prestige Trade Tower, located close to the Delhi airport. In 2019, it formed a joint venture with DB Realty to build a mixed-use project with a focus on hospitality that would occupy 7.7 acres in Delhi’s Aerocity.

A 2 million square foot project featuring 932 hotel rooms, 645,000 square feet of office space, and a 200,000 square foot convention center is being developed by Prestige Group.

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