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WeWork India and real estate giant Bhutani Group enters long-term partnership with landmark deal at Alphathum, Noida

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The Alphathum x WeWork partnership is one of the largest commercial real estate transactions facilitated by leading advisory firm Colliers.

 

Gurugram, May 11, 2022 – 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 Group commented, “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.

Media Contact:

Sukanya Dasgupta

Senior Director & Head, Marketing & Communications| India

Sukanya.dasgupta@colliers.com

+91 9811867682

 

Riddhi Vira

Manager, Public Relations | India

riddhi.vira@colliers.com

+91 9619776362

 

About Colliers

Colliers is a leading diversified professional services and investment management company. With operations in 62 countries, our 17,000 enterprising professionals work collaboratively to provide expert real estate and investment advice to clients. For more than 27 years, our experienced leadership with significant inside ownership has delivered compound annual investment returns of 20% for shareholders. With annual revenues of $4.3 billion and $57 billion of assets under management, Colliers maximizes the potential of property and real assets to accelerate the success of our clients, our investors and our people

About WeWork

WeWork is India’s largest office space provider, aimed at creating flexible workspace solutions for companies of all sizes. Since entering the Indian market in 2017, WeWork India has been spearheading the concept of flexible workspaces and driving the future of work with over 5+ million sq ft of assets acquired in 36 locations, across NCR, Mumbai, Bengaluru, Pune and Hyderabad. For more information, visit: wework.com

 

About Bhutani Infra

Backed by a decade’s worth of experience and an abundance of expertise, the Bhutani Group has pioneered the conceptualization and execution of upscale real estate projects in the retail, commercial segments which includes the most advanced IT office spaces. In a very short span of time, the Group has left strong footprints in the entire spectrum of real estate development, creating and managing several projects across Delhi NCR. With the highest standards of deliveries and return on investment all across Delhi and NCR over the last two decades, Bhutani Group is on a continuous trajectory of evolution inspired by and creating best practices in the world of development. For more information, visit: bhutanigroup.com


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