Hongkong Land Holdings Ltd, the biggest landlord in Hong Kong’s Central business district, will open its first flexible office in Edinburgh Tower.
The owner has converted two floors of the tower to feature 320 desks that will open on Wednesday. Hong Kong Land said it would be gearing its services towards financial companies and professional services firms in an effort to accommodate businesses who are pivoting to smaller offices and short-term leases.
“The coworking space sector is actually performing better recently compared with last year,” said Martin Wong, head of research & consultancy for Greater China at Knight Frank LLP. “Many companies are taking the cautiously optimistic approach to expand, and coworking spaces provide them the flexibility in terms of capital costs and leasing terms.”
In Hong Kong, the flexible office industry is facing consolidation due to massive closures, with major operators like WeWork being forced to shut down spaces in the market. However, companies are taking advantage of the growing demand for agility and slowly taking up more space.
