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UrWork is set to open its second Singapore location at Suntec City in the first quarter of 2018, reported The New Paper.
Backed by Alibaba’s Ant Financial and Sequoia Capital among others, the prominent Chinese co-working space operator launched its first overseas outlet in Ayer Rajah Crescent in July.
Founder and chief executive Mao Daqing noted that the new outlet is part of the company’s efforts to become a bridge between China and Southeast Asia.
Valued at around US$1.5 billion (S$2 billion), UrWork has been touted as China’s answer to Silicon Valley’s WeWork.
It is China’s biggest co-working space operator, with 100 co-working sites spread across 33 Chinese cities. It plans to expand globally in 160 locations across 35 cities over the next three years.
Spanning 1,300 sq m, its second Singapore location will take in Southeast Asian startups planning to expand into China and Chinese firms looking to grow in the region.
As part of its regional strategy, the company also invested in Rework, a co-working startup based in Jakarta, earlier this year.
It also inked a memorandum of understanding with property giant CapitaLand and trade agency IE Singapore last December to help Singapore companies break into the China market by providing business advisory services and co-working spaces.
This article was edited by Keshia Faculin.
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