HomeNewsWeWork signs deal with Bhutani Group for Alphathum, Noida

WeWork signs deal with Bhutani Group for Alphathum, Noida

WeWork India, India’s leading flexible workspace provider, has signed its largest expansion deal to date with renowned real estate developer Bhutani Group wherein WeWork will take up the entire tower comprising 25 leasable floors at Bhutani Alphathum, in Noida. Under this partnership and deal structure, the entire building P&L will be owned by Bhutani Group along with fitout investments. Facilitated by leading advisory firm Colliers, the WeWork Alphathum partnership is one of the largest commercial real estate transactions, marking a watershed 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.

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. This partnership will not only align landlords and operator incentives with management agreements but also create a mutually-beneficial partnership for all parties. Partnering with flex space operators will also allow commercial landlords to diversify their offerings, making them less susceptible to economic downturns. Besides this, landlords will be able to deliver flexible office space themselves rather than simply leasing the space to a flex space operator, giving them the chance to cash in on the growing demand for these versatile office spaces. Although landlords absorb the cost of fitouts, they receive a greater share of the revenue and reduce the risk of leasing to a single tenant.

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