US-based co-working operator WeWork announced that it has officially launched its first Taiwan location, WeWork 97 Songren Lu.
The new workspace, located in Taipei’s Xinyi District, is spread across eight floors at Exchange Square 2, featuring a design that’s inspired by Taiwan’s history and people, according to a statement.
Photo credit: WeWork
WeWork said that the opening of the Songren Lu office underscores the company’s commitment to Asia.
“We see high demand for flexible workplace solutions from large enterprises, small and medium-sized enterprises, and startups in Taiwan that allow them to scale workspace up and down as needed,” said Herman Pan, vice president of Hung Tai Group, which owns Exchange Square 2.
According to a statement, WeWork 97 Songren Lu is home to members from diverse industries, such as cloud-based systems operator CloudMinds and virtual reality-based solutions provider Medical Augmented Intelligence.
The company claims that it has expanded to 625 locations in over 125 cities and 33 countries globally as of November 2019.
Last month, WeWork announced the opening of its two new locations in Vietnam, where it acknowledges fierce competition for co-working companies.
The company is also up against tough rivals in China such as Kr Space and Ucommune, which has reportedly filed to go public in the US.
WeWork is in the midst of restructuring its business following its shelved IPO plans. This week, the company said it has arranged a US$1.7 billion letter of credit with Goldman Sachs, which is part of SoftBank’s pledged rescue financing package for WeWork.
Editing by Charmaine de Lazo
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