WeWork Hong Kong
WeWork inks first deal with publicly traded Hong Kong landlord Co-working giant raised $500M last year for South Korea/Asia expansion
Adam Neumann and Cityplaza 3 in Hong Kong (Credit: Swire Properties)
WeWork struck its first deal with a major publicly listed developer in Hong Kong.
The co-working company signed an agreement to lease four floors with roughly 55,000 square feet at Swire Properties’ 24-story Cityplaza 3 tower in Taikoo Shing, Bloomberg reported.
The class-A office tower is eight subway stops away from the Central business district. The rent was not disclosed, but Swire said WeWork will pay market rate.
WeWork already operates two facilities in Hong Kong. But those are outside the central business district and leased from smaller landlords in Wan Chai and Causeway Bay. The company plans to open in a former hotel in the Lan Kwai Fong entertainment district.
Hong Kong has been slower than other financial centers to grab ahold of the co-working trend en masse, partly because landlords have not felt the pressure with occupancy rates at nearly 100 percent.
Office space in Hong Kong’s Centr上海千花网