UR Work and New Space merge to create major force
By Chen Meiling | China Daily | Updated: 2017-05-08 07:55
Two major Chinese co-working space companies, UR Work and New Space, announced they were merging on April 26, to form a group with a market valuation of around 9 billion yuan ($1.3 billion).
The combined entity is projected to provide 100,000 desks with an area of more than 500,000 square meters for innovation-driven companies in 35 cities worldwide over the next three years.
"China has entered an era with a big supply of real estate," said Wang Shengjiang, founder and CEO of New Space.
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