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No plans for WeWork to withdraw from S’pore or hive off business despite global losses

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It is understood that the Singapore business remains profitable. Read more at straitstimes.com.

SINGAPORE – Troubled co-working giant WeWork intends to keep its 14 locations in Singapore open despite the severe financial pressure it is facing elsewhere.

The occupancy rate for the Asia-Pacific region was 83 per cent as at March 31, according to the company’s 2023 first-quarter results.The Straits Times reported in January 2020 thatand it is understood that the business remains in the black, despite overall losses of US$397 million for the company in the second quarter of 2023.

WeWork is also a tenant at two City Developments Limited properties – City House in Singapore and St Katharine Docks in London.

 

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