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WeWork works in the Chinese mainland
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WEWORK, an international co-working space operator, is picking up its growth in China with its "community-centered" concept to tap vibrant market demand arising from urbanization and an ever-expanding workforce of the millennium generation.
"China specifically and Asia more broadly is a big strategic priority for us," Ole Ruch, managing director of WeWork, Asia and Australia, told Shanghai Daily today while attending the official opening ceremony of its third location in the city near the People's Square. "We've gone from one location in the country to 10 within a year and we will definitely keep growing at the same pace if not even faster."
Opening its first location in China in July 2016, WeWork has so far announced eight locations in Beijing and Shanghai which provide more than 8,200 seats in total, as well as two locations in Hong Kong. Eight of the 10 locations already started either official or trial operations while the remaining two are in the pipeline.
For additional geographic expansion, the company remains very upbeat.
"We've seen incredible demand for business platforms in the foreseeable future in markets like Shanghai, Beijing and Hong Kong where people are seeking not only a place to enjoy doing what they love but also a community for them to grow their business," Ruch said. "We are always on the outlook in both existing and new markets and any Tier One or Two city will actually work."
Founded in New York in 2010, WeWork is now present in more than 135 locations across over 44 cities in 14 countries around the world with more than 100,000 members.
In China, WeWork's members total several thousand for now but in the longer run, tens of thousands of members could be individually expected in Beijing, Shanghai and Hong Kong, according to the company.
The location opened today on East Yan'an Road is under a strategic partnership with Sino-Ocean Group, a domestic real estate developer which has also formed alliance with WeWork in two other projects in Beijing.
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