Ucommune, the largest coworking operator in China, has revealed it will open its first location in Australia.
The new coworking space will open in partnership with Hexa Group and take up two floors of the nearly completed 31-story Panorama building in the Melbourne suburb of Box Hill.
Ucommune has signed a five-year agreement that will see it operate and manage nearly 12,000 square feet of coworking space, with plans to continue expanding its presence across Australia.
“Empowering property developers with our expertise and capabilities in coworking space operations demonstrates the advantages of our asset-light business model,” said Daqing Mao, founder of Ucommune. “We expect to develop the ‘Hexa Space-Ucommune’ project as a benchmark case of our asset-light business model, accelerate our business expansion in overseas markets, and grow Ucommune into an international brand.”
Despite having 282 locations, the company has just five outside of China, with four in Singapore and one in Hong Kong.
