WeWork India and real estate giant Bhutani Group enters long-term partnership with landmark deal at Alphathum, Noida.
By Varun Singh
In line with their commitment towards long term growth and expansion, WeWork India, India’s leading flexible workspace provider, and renowned real estate developer Bhutani Group, today announced their long-term partnership wherein WeWork will take up entire tower comprising of 25 leasable floors at Bhutani Alphathum, in Noida. The Alphathum x WeWork partnership is one of the largest commercial real estate transactions facilitated by leading advisory firm Colliers, marking a landmark moment for the real estate sector and a testament to the reliability and trust that leading developers are showcasing towards WeWork India.
Set to open in Q4 2022, WeWork Alphathum will be spread over an area of 660K+ square feet and will house over 8,500 desks over multiple phases driven by demand to offer a spectrum of flexible workspace solutions. The partnership brings together WeWork India’s innovative flexible workspace solutions and Bhutani Group’s futuristic business destinations, creating enhanced solutions that cater to the evolving nature of work and workspaces.
Situated in a prime location, Alphathum provides a host of benefits through its proximity to the upcoming infrastructure developments including the expressway. The building is equipped with world class amenities for the members including access to a rooftop infinity pool, bowling alleys, dining areas and more. Designed as a steel structure, the building consists of three high rise towers interconnected by a common terrace and is tailor-made to meet the workplace requirements of businesses of all sizes. The building is well connected through various modes of transport including road and metro allowing easy access to professionals from all parts of the city. Bhutani Alphathum and WeWork’s long term deal demonstrates the potential created by the changing face of workspaces in India.
Ashish Bhutani, Chief Executive Officer, Bhutani Groupcommented, “We welcome WeWork at Bhutani Alphathum and are committed in providing them with the highest quality of services. We look forward to a long-term mutually beneficial association which will be significant with respect to vibrant business activities and participation from prospective business communities.”
Arnav S. Gusain, Head of Real Estate, Product and Procurement, WeWork India said, “We are delighted to partner with a pioneer like the Bhutani Group and expand our network in Noida through Bhutani Alphathum. We would also like to thank our partner, Colliers who played an instrumental role in helping us secure our largest expansion deal till date. Through this partnership, we not only look forward to strengthening our presence across the Indian market but also showcase a promising future for the consistently rising demand for flexible workspace industry in India. We will continue to meet the evolving needs of our members across the country through such partnerships and service offerings in the future as well.”
Bhupindra Singh, Managing Director, North India at Colliers added, “Wework, One of India’s largest co-working players caters to a diverse mix of clients providing them with flexible workspace solutions. Now expanding their footprint in Bhutani group’s iconic development Alphathum, WeWork will establish a strong presence along Noida – Greater Noida Expressway. An established micro-market with a strong retail presence and a well-defined residential catchment. Colliers is proud to have created synergies for like-minded parties through this transaction and is excited to witness their journeys.”
Bhutani Alphathum is a futuristic business destination with the promise of an excellent location, lucrative investment opportunity that’s coupled with premium facilities to its members. With the launch of this building, WeWork aims to curate a superior workspace experience for members and employees, while creating long term value for landlords. WeWork and the Bhutani Group have reinstated their contribution towards incorporating flexibility into the dynamic commercial real estate sector in the country through Bhutani Alphathum.
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