WeWork India Renews INR 152 Crore Lease for Goregaon East, Mumbai Office

Mumbai:

WeWork India has renewed its long-term lease for office space in Mumbai's Nesco IT Park in Goregaon East, covering five floors and totaling 1.4 lakh square feet. This strategic move will cost over ₹152 crore over five years.

Lease Details

• Location: Nesco IT Park, Goregaon, Mumbai
• Total Area: 1.4 lakh square feet across five floors
• Lease Cost: ₹152 crore over five years
• Initial Rent: ₹162 per square foot per month
• Annual Rent: ₹27 crore
• Escalations: 12% in 2025 and 2029
• Car Parking: Exclusive access to 104 slots

WeWork India's Growth

WeWork India's Chief of Supply, Arnav S Gusain, highlighted the strategic importance of Nesco IT Park in their growth. The company recently expanded with additional office space in Bengaluru and Noida, reinforcing its presence in India's co-working market.

Co-Working Space Industry in India

India's co-working space industry is rapidly growing, with the market expected to double by 2025. Major cities like Mumbai, Delhi, Bengaluru, and Hyderabad are leading this growth, driven by startups and SMEs seeking flexible workspace solutions.