(Yicai) Nov. 13 -- Global flexible workspace giant International Workplace Group has signed deals for more than 60 new flexible workplace centers in China in the first three quarters of this year.

IWG has expanded its presence in major Chinese cities, including Shanghai, Shenzhen, and Wuhan, in the nine months ended Sept. 30, demonstrating robust demand from both multinational corporations and local businesses, the firm said in a statement today.

IWG operates more than 150 flexible workplace centers across 45 Chinese cities, with its global network reaching over 5,000 locations in more than 120 countries.

"The rapid expansion of IWG's flexible workspace network in China was driven by two factors," said Edward Hu, president of IWG China.

"First, corporate clients are seeking more flexible, efficient, and sustainable office solutions," Hu noted. "Second, property owners are increasingly recognizing IWG's brand value, global client acquisition capabilities, and mature operational platform as they look to diversify from traditional leasing models amid challenging market conditions."

IWG's revenue rose 4 percent to USD1.1 billion in the third quarter from a year earlier, buoyed by a 36 percent jump in revenue from its managed and franchised operations, with recurring management fees up 83 percent.

IWG demonstrated strong expansion momentum and market appeal, with 335 new center signings and 215 center openings during the third quarter, both increasing over 40 percent from the same period last year.

Editor: Futura Costaglione