Chinese Real Estate Developer Signs Cooperation Agreement With Shared Workspace Firm UrWork

Chinese Real Estate Developer Signs Cooperation Agreement With Shared Workspace Firm UrWork

Dou Shicong

Date: Fri, 10/13/2017 - 15:24 / source:Yicai
Chinese Real Estate Developer Signs Cooperation Agreement With Shared Workspace Firm UrWork
Chinese Real Estate Developer Signs Cooperation Agreement With Shared Workspace Firm UrWork

(Yicai Global) Oct. 13 -- Real estate developer China Merchants Shekou Industrial Zone Holdings Co. formed a strategic cooperation with shared workspace firm UrWork (Beijing) Venture Investment Co. [SHE:001979] to develop shared workspace services.

The parties signed an agreement recently, and they will collaborate on workspace selection, office design, operation and management, and member services, the Guangdong-based group said. Both shall enjoy the right of preferred investment in enterprises in each other’s spaces.

Former China Vanke Co. [SHE:000002] Vice President Mao Daqing founded UrWork in 2015. The company has brought together dozens of top investment institutions such as Sequoia Capital China and ZhenFund to form an ecological community for startups.

UrWork has run 78 joint offices in 20 cities including Singapore, New York and London as of June. It has more than 30,000 members and has brought together over 3,000 startups. The group plans to expand to 32 cities in three years, bringing platform services to 8,000 enterprises.

China Merchants Shekou Industrial Zone said that the cooperation is an active exploration in the innovation field of sharing offices that is conducive to enriching its business and expanding its brand influence.

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Keywords: MSCI, UrWork Venture Investment, Sequoia Capital, Mao Daqing