Landlord-Operated Co-Working Spaces

This report looks at the current market landscape of co-working spaces in Hong Kong , landlords’ reaction towards the slowdown of the co-working industry, and the market opportunities amid considerable uncertainty.

The Co-working Landscape

Over the past decade, we have witnessed a massive rise in the number of co-working space operators in Hong Kong. International operators such as WeWork and Regus, and players from Mainland China such as the Beijing-based Ucommune and Kr Space have expanded rapidly in the market. Many took the opportunity to serve the growing market of start-ups, small businesses and freelancers, who appreciate more flexible commercial terms and require a smaller footprint. Over time, the belief that co-working space operators will disrupt the office space sector has encouraged an influx of capital investment to the co-working space sector, fuelling its growth in the past few years.