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WeWork ends leases in Singapore as office vacancies rise
WeWork Inc. is surrendering leases for two co-working spaces in Singapore, as the move underscores challenges faced by the New York-based company in the region.
WeWork has ended operations at its offices from the 17th to 20th floors at Manulife Tower, located at 8 Cross Street. It will also vacate three floors at 83 Clemenceau Avenue next year.
The company said these decisions are part of an ongoing review of its real estate portfolio.
Despite this, WeWork remains committed to 12 other sites in Singapore.
Recent WeWork developments
| Timeline |
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22-Nov-2023 🏢 WeWork secures $682.5m in financing commitments after bankruptcy
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26-Aug-2021 🏢 WeWork launches On Demand app in Singapore, three other countries
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10-Aug-2021 🚀 WeWork launches growth initiative for startups in Singapore
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01-Jul-2021 🤝 WeWork partners with Grab to offer deals for the super app’s business clients
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29-Jan-2021 📈 WeWork is weighing an IPO through SPAC, sources say
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