Coworking in Singapore has evolved in the past year and is transcending all commercial real estate space. One of the largest real estate players to weigh in on the trend is Singapore’s CapitaLand. “Many property developers entering this space think they can start their own coworking site,” says president and group CEO Lim Ming Yan. “It’s going to take a long time. That’s why we would rather work with someone who’s the best in the industry.”
On Dec 2, CapitaLand signed a memorandum of understanding with International Enterprise (IE) Singapore and China’s leading coworking space operator, UrWork. The MOU marks CapitaLand’s maiden launch of coworking space in its malls. The first two UrWork coworking centres will open in CapitaLand’s malls in China over the next six months. The first coworking space of 4,100 sq m, in CapitaMall Minzhongleyuan Mall in Wuhan, will open in phases from next month. This will be followed by a 1,300 sq m centre in Capita Mall Wangjing, Beijing, slated to open in 1H2017. These two UrWork co working centres will have a combined total of 600 workspaces.
Founded by Mao Daqing in March 2015, UrWork has 40 coworking centres with 15,000 workspaces in 11 cities across China. It plans to double that to 30,000 workspaces by next year. UrWork coworking sites are situated in shopping malls and other commercial sites. “We find that when you plug coworking into a shopping mall, it creates new energy there,” says Mao, who worked with CapitaLand in China for 14 years before leaving to start UrWork.
The Collective Works at Capital Tower opened in June with 22,000 sq ft of coworking space
CapitaLand’s MOU with IE and UrWork will see it opening its first coworking space of 4,100 sq m in CapitaMall Minzhongleyuan, Wuhan, China