WeWork Bets Big on Spain As A Cornerstone for European Growth
After navigating one of the most significant restructurings in the global real estate industry, WeWork has set its sights on Spain as a core market in its European revival.
In an interview with the Spanish media elEconomista, Rebecca Nachanakian, General Manager for Continental Europe at WeWork, described Spain as one of the company’s “top three countries in Europe” for both occupancy and revenue.
With nine active locations in Madrid and Barcelona, and occupancy rates exceeding 80%, Spain has emerged from the company’s global shakeup largely unscathed.
“The Spanish market has remained virtually intact,” Rebecca Nachanakian notes, underscoring its resilience and potential. Only one space was closed during the restructuring process.
Rather than pursuing aggressive expansion, WeWork is prioritizing consolidation and community, reinvesting in member experience at its existing locations. Plans include renovations of iconic buildings and a continued focus on providing flexibility and value-added services. “We are strengthening our community, not just our square footage,” said Nachanakian.
Madrid, in particular, is standing out in Europe’s flexible workspace landscape. In Q1 2025, nearly 18% of all office leases in the city were for flexible workspaces, says the article, a record that positions the capital as a regional leader in this fast-evolving sector.
While keeping an eye on other tech-forward Spanish cities, WeWork’s current focus remains firmly on Madrid and Barcelona. These cities, she says, are “vibrant business ecosystems” and “key centers of entrepreneurial energy.”
WeWork’s role in Spain is shifting, she adds. No longer just a provider of office space, the company is positioning itself as a strategic partner in the transition toward hybrid and flexible work. The demand profile has changed: large enterprises now join startups and SMEs in seeking flexible, tech-enabled, and customizable workspace solutions. “Spain is central to our European success story — and we’re here to stay.”
Rebecca Nachankian is a regular speaker at the Coworking Europe conference, and will be a speaker again at the upcoming Coworking Europe 2025 conference in Berlin (November 19-20).
WeWork is owned by Yardi, Platinum sponsor of Coworking Europe 2025.
Picture source: WeWork Madrid website page
