ICICI Bank leases 820 desks at WeWork India in Mumbai
Bengaluru: Premium Flexible Working Area operator Works India rented approximately 820 tables to Icıcı Bank in Mumbai suburb.
The tables spread to 42,000 square meters in the center of India in the ‘Spectrum Tower’ building in the Malad region. “Rental term is 15 months from now on.
The Icici Bank had previously received about 450 seats at the Wework center in Oberoi Commerz in the suburban Goregaon in October 2020. In 2023 he gave up this area and now he returned to buy a wider area.
The second person said, “After the PANDEM, companies working in partial hybrid mode are recalling all their employees to the office, which means greater requirement for the office area,” he said.
Wework and Icıcı Bank did not answer the queries sent on Tuesday.
Although the estimated value of the last leasing is unknown, La15,000-17,000 per table in the center of the Spectrum Tower Building.
Large, mainstream companies are constantly adopting a mixture of traditional office space and flexible working areas as a strategy to optimize the use of real estate.
India’s total flexible work area has reached 74 million square meters in the first seven cities in 2024. In February, property consultancy JLL India predicted that the flexible footprint in the top seven cities will exceed 100 million SQ FT by 2026 and will underline the country’s important role in shaping the developing office view.
Wework India, a leading operator, constantly increases footprints in multiple cities. In June, Wework India said he had signed a lease agreement for two new centers – Wework Eon Free Zone in Pune and Wework Ramanujan Intellion Park in Chennai.
Together, the rented new area is more than 200,000 square meters in two cities. Both centers will be opened in the second half of 2024-25.
Wework India has an operational portfolio of 7.8 million square meters in 68 centers in eight cities.
Recently, Samsung India electronics has rented approximately 1000 tables of 61.230 square meters at the Olympia cyber field facility of Wework in Chennai for 42 months.
