WeWork bankruptcy India business will not be impacted in any manner says WeWork India CEO Karan Virwani
(This story has not been edited by THE WEEK and is auto-generated from a PTI
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(This story has not been edited by THE WEEK and is auto-generated from a PTI
Leading flexible workspace provider WeWork, once valued at $47 billion, has filed for bankruptcy in the US and Canada. The company was valued at just $45 million last week.WeWork and certain of its entities filed for protection under Chapter 11 ...
In WeWork India, Bengaluru-based real estate firm Embassy Group has a 73 percent stake, while WeWork Global has a 27 percent shareholding.
Global funds and developers focusing on income yielding assets like Brookfield India Real Estate Trust (BIRET),Blackstone Inc, Canada Pension Plan Investment Board, APG Sustainable Real Asset, Embassy Reit are some of the top corporates who are aggressively adopting ESG across its asset classes. This surge in interest aligns with the increasing demand for energy-efficient buildings, given the projected doubling of global building floor area in the next three decades
The statement by the Indian company read, “During this period, we will continue to hold the rights to use the brand name as part of the operating agreement, while serving our members, landlords, and partners as usual.”