WeWork, a global name in co-working that has been at the center of media frenzy over its failed IPO, says it’s inaugurating one new location in Singapore today and planning to add two entirely new locations this year.
This comes amid WeWork’s global woes, restructuring, and potential plans to lay off staff. The location WeWork Singapore is launching today is at 9 Battery Road. The new locations will be at 83 Clemenceau Avenue and 30 Prinsep Street, WeWork said in a statement. This will bring total number of locations of WeWork in Singapore to 14, out of 25 locations across Southeast Asia.
In August 2017, WeWork acquired Singapore’s Spacemob and announced a USD 500 million expansion into Southeast Asia and Korea. And WeWork grew presences in Singapore, Indonesia, Malaysia, the Philippines, Thailand, and Vietnam within less than two years.
The fast-growing economies and tech-savvy populations of Southeast Asia promised plenty of opportunity for co-working providers. The region already has some notable local names such as Vietnam’s UpGen, which operates 21 locations in Thailand, Vietnam, and Malaysia; Indonesia’s Co-hive with 28 locations in Indonesia; and Singapore’s JustCo.