WeWork completes lease negotiations with Singapore landlords, targets May 31 to emerge from bankruptcy

In Singapore, this rationalisation activity did not see the co-working operator prematurely conclude any of its office space leases, and the firm states that it intends to continue to be in its existing structures in the city-state for the foreseeable future. WeWork operates 14 areas in Singapore, and its biggest space is the 21-storey, Grade-An establishment at 21 Collyer Quay which is rented from CapitaLand Integrated Commercial Trust.

Lentoria condominium

Hidalgo adds: “Singapore has actually been, and will definitely continue to be, a top priority market for WeWork, and we are excited to commit even more down the road of service through our goods and member experience.”

The business commenced an international realty rationalisation approach in September last year, just before the company declared bankruptcy in the US two months afterwards in November 2023. “The restructuring attempts we have performed stand WeWork as the top realty partner to property managers and members for the long-term,” says Claudio Hidalgo, WeWork’s COO.

Global versatile workspace company WeWork has recently publicized that it has concluded a set of lease contract arrangements with its Singapore workplace proprietors. This wraps up the property rationalisation exercise of its Singapore portfolio that initiated last September.

” Singapore has long been a hub for international companies that are take advantage of our network to sustain their developments, in addition to fast-moving SMEs and start-ups that use our regional network to balance their operations,” mentions Balder Tol, overall supervisor, Australia & Southeast Asia, WeWork.

In other major markets, WeWork states that it has made “substantial” improvement in its ongoing economic restructuring in the US and Canada, and has finished contract settlements on 90% of its overseas realty account. The firm has targeted May 31 to come out from case of bankruptcy protection.


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