WeWork will shut eight floors of co-working space in Causeway Bay, shrinking its Hong Kong footprint by half as social distancing, work-from-home arrangements crimp demand

WeWork, the US real estate company that spearheaded the popularity of co-working space, will shrink its property footprint in Hong Kong by more than half, as more people are working from home under social-distancing restrictions during the Covid-19 pandemic.The company will abandon 90,000 square feet (8,361 square metres) of space across eight floors at Tower 535 in Causeway Bay, reducing its portfolio in Hong Kong by 56 per cent to 360,000 square feet, according to people familiar with the…

WeWork will shut eight floors of co-working space in Causeway Bay, shrinking its Hong Kong footprint by half as social distancing, work-from-home arrangements crimp demand
WeWork, the US real estate company that spearheaded the popularity of co-working space, will shrink its property footprint in Hong Kong by more than half, as more people are working from home under social-distancing restrictions during the Covid-19 pandemic.The company will abandon 90,000 square feet (8,361 square metres) of space across eight floors at Tower 535 in Causeway Bay, reducing its portfolio in Hong Kong by 56 per cent to 360,000 square feet, according to people familiar with the…