The parent company of Regus has helped itself to a space in Hong Kong vacated by rival WeWork, as the balance of power shifts within the flexible office universe.
IWG, which owns Regus and four other flexible office brands, confirmed… Read More>>
Goldman Seizes Luckin Shares after $518M Default and More Asia Real Estate Headlines
Coffee leads the way in Mingtiandi’s roundup of Asia real estate headlines today with the news that a US investment bank is seizing shares in a scandal-hit coffee chain after the company’s chairman defaulted on a $518 million loan.
In… Read More>>
SoftBank Abandons $3B WeWork Share Buyout
Softbank has withdrawn its proposal to buy $3 billion in WeWork shares, following through on a letter to investors sent last month threatening a U-turn on the deal which gave it control of the troubled co-working pioneer.
The Japanese investment… Read More>>
Public Storage Backs Out of Aussie REIT Buyout and More Asia Real Estate Headlines
A binned self-storage deal leads the way in Mingtiandi’s roundup of Asia real estate headlines today with the news that the highest bidder for an Australian REIT is said to have backed out of the deal, citing market conditions, having… Read More>>
WeWork Names Former Brookfield Exec as New CEO
Shared office provider WeWork has found a new chief executive as the financially challenged company takes another step in its struggle for profitability.
Brookfield Properties executive Sandeep Mathrani will join the New York-based firm as CEO on 18 February, according… Read More>>
Daito Trust Will Invest a Combined US$74 million in JustCo and in a New Japan Joint Venture Sponsored Feature
Daito Trust Construction Co., Ltd (“Daito Trust”), a listed construction and real estate company in Japan will invest a US$50 million in JustCo Holdings Pte. Ltd. (“JustCo”). In addition, Daito Trust will invest up to an additional JPY 2.65 billion… Read More>>
Credit Suisse, Citigroup, BOA Abandon Ucommune IPO Amid Valuation Questions
It has only been a few days since China’s largest co-working operator officially filed a prospectus for its US IPO, but Ucommune’s debut on the New York Stock Exchange is already said to be facing opposition from its own bankers… Read More>>
Kr Space Surrenders Times Square Location in Final Retreat From Hong Kong
Kr Space has surrendered its lease in Hong Kong’s Times Square, bringing to a close the mainland co-working startup’s ill-fated venture into the Asian financial hub, according to industry sources who spoke with Mingtiandi.
The Beijing-based operator, which completed a… Read More>>
WeWork Losses More Than Doubled to Reach $1.25B in Third Quarter
Adding to the pain of the We Company’s IPO fail in September, the parent firm of shared workspace provider WeWork revealed in an investor presentation this week that its losses reached $1.25 billion in the third quarter of this year.
WeWork Said Looking for Exit From Half-Dozen Hong Kong Centres
WeWork has backed out of an agreement to occupy space in Hong Kong’s Hopewell Centre even before it got a chance to move in, according to sources familiar with the decision who spoke with Mingtiandi.
The troubled co-working pioneer is… Read More>>
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