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A leading global provider of flexible workspaces has completed agreements for over 60 new flexible office locations in China during the first nine months of this year.
The company has expanded its footprint in key Chinese cities such as Shanghai, Shenzhen, and Wuhan, reflecting strong demand from both international corporations and local enterprises, according to an official statement.
Currently, the company manages more than 150 flexible workspace centers across 45 Chinese cities, with its international network extending to over 5,000 locations in more than 120 countries worldwide.
“The rapid growth of our flexible workspace network in China is being driven by two main factors,” explained the company’s China president. “First, corporate clients are increasingly seeking more adaptable, efficient, and sustainable office solutions. Second, property owners are recognizing the value of our brand, our global client acquisition strengths, and our mature operational platform as they look to diversify away from traditional leasing amid a challenging market environment.”
In the third quarter, the company’s revenue increased by 4 percent year-over-year to $1.1 billion, supported by a 36 percent rise in revenue from managed and franchised operations, with recurring management fees growing by 83 percent.
The company showed strong momentum during the quarter, signing agreements for 335 new centers and opening 215 locations, both figures representing more than a 40 percent increase compared to the same period last year.
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