In The Loop: News From WeWork, Coworking in Jerusalem, And New Accounting Standards

New lease accounting standards coming into effect in January, 2019 will boost demand for flexible workspace

WeWork’s Chief Development Officer on Weathering an Economic Downturn

WeWork’s Chief Development Officer, Granit Gjonbalaj, talked to Bisnow about how the growth of the industry has forced property owners to rethink the way they run their operations and the industry’s vulnerability to an economic downturn. Gjonbalaj also spoke about the coworking giant’s aggressive pursuit of landlord partnerships as part of their growth strategy.

Coworking in Jerusalem
Israel’s flexible workspace market is growing rapidly, CTech reported this week. This week two coworking companies announced their plans to open new locations outside of the Tel Aviv metropolitan area. Flexible workspace operator Urban place will open its third location in Jerusalem central bus station and International Workplace Group (IWG) will open a second location in downtown Haifa.

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New Lease Accounting Standards will Boost Flexibility

New lease accounting standards that come into effect in January 2019 will boost demand for flexible workspace. Property Week reported this week how these new leases, which will force companies to reveal the full costs of leases in their annual reports, will affect the balance sheets of large companies and how it will help power even more the growth of the flexible workspace industry.

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