Karan Virwani, MD & CEO of WeWork India, stated that the company intends to develop a workspace solution devoted to Global Capability Centres (GCCs) in the coming weeks in response to increasing demand from multinational firms growing their operations in India.

“In the next few weeks, we’ll be announcing something a little bit more formal launch plans of a workplace solution for GCC,” Virwani said. “There’s a huge demand coming from all parts of the world. Earlier it used to be basically very large businesses, today it’s all sorts of mid sized and even small global businesses that are hiring in India.”

According to Virwani, GCCs now account for approximately 35% of WeWork India’s overall portfolio, and the company wants to  “productise this infrastructure as a service part for GCCs, where we have a model which will be entry phase, scaling phase and maturity phase.”

The decision comes as the global tech slump shows no signs of reducing demand from foreign corporations or Indian businesses. He stated that both GCCs and major firms are increasing personnel and transitioning to flexible workspaces.

“To be honest, we are not seeing any slowdown. Actually, we are seeing some acceleration from some of these companies,” Virwani said. “When some of this uncertainty happens, what we tend to see is, there is clearly a transition where they’re moving parts of their portfolio away from traditional long-term space towards flex and actually towards us.”

Startups, too, are returning to flexible spaces as venture capital activity increases. “Smaller businesses and startups are now starting to add headcount and seeing some of that activity come back, which really had paused for a bit.”

WeWork’s portfolio currently totals 7.7 million square feet across 70 locations in eight cities.  Bengaluru continues to dominate, although Chennai, Hyderabad, and NCR are rapidly expanding. “We have some large back-to-back managed office customers signed up in Chennai and Hyderabad that will open by the end of the year,” Virwani said.

To further integrate its services online, the company recently created the WeWork India app. “We’ve seen almost some 21,000 downloads, tens of thousands of transactions, and a 4.9 rating on the App Store,” said Virwani. “It is a platform that ties our entire business together, gives access to all global locations, and helps members discover spaces and be flexible across the board.”

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