Highlights

PropertyInvestment

Author: leahlim   |   Latest post: Fri, 16 Apr 2021, 4:25 PM

 

WeWork will shut eight floors of co-working space in Causeway Bay, shrinking its Hong Kong footprint by half as social distancing

Author:   |    Publish date:


SINGAPORE (EDGEPROP) - WeWork, the US real estate company that spearheaded the popularity of co-working space, will shrink its property footprint in Hong Kong by more than half, as more people are working from home under social-distancing restrictions during the Covid-19 pandemic.
The company will abandon 90,000 square feet (8,361 square metres) of space across eight floors at Tower 535 in Causeway Bay, reducing its portfolio in Hong Kong by 56 per cent to 360,000 square feet, according to people familiar with the matter. WeWork, which chose Tower 535 as its very first Hong Kong location in 2016, may incur a penalty as its termination is a breach of its tenancy agreement until 2025 with its landlord Phoenix Property Investors, the people said.
 
 
 
 

 

Share this

  Be the first to like this.
 


APPS
I3 Messenger
Individual or Group chat with anyone on I3investor
 
 

233  162  218  529 

ActiveGainersLosers
Top 10 Active Counters
 NameLastChange 
 MM2 Asia 0.06+0.003 
 SingTel 2.55+0.12 
 Sembcorp Marine 0.205+0.006 
 Oceanus^ 0.041+0.002 
 Blumont^ 0.005+0.001 
 Jiutian Chemical 0.099-0.001 
 Rowsley 0.112-0.001 
 Edition 0.009+0.001 
 Genting Sing 0.900.00 
 ThaiBev 0.745-0.005