COMMERCIAL PROPERTY | Staff Reporter, Hong Kong

Hong Kong's co-working scene thrives as Singapore struggles

Co-working spaces provider TheDesk gained 25% more new members YoY in Q1.

On a recent Friday afternoon, dozens of people sat hunched over laptops at TheDesk’s six-story co-working space near Hong Kong’s Central business district, whilst others chatted over snacks at tables on the outdoor terrace—all of them ignoring government advice to work from home to stop the spread of coronavirus.

Whether escaping tiny apartments that aren’t conducive to work, or less concerned by a virus that has infected around 1,000 residents compared to more than 110,000 New Yorkers, the surprise result is co-working providers are thriving in Hong Kong, even as much of the world remains in lockdown.

TheDesk signed up 25% more new members in the first quarter versus the quarter prior, according to CEO Thomas Hui.

The Executive Centre, a high-end serviced-office operator, leased 33% more desk space in the first quarter in Hong Kong than a year earlier. Across its 135 mostly Asian centers, it grew about 9% in the first three months of the year.

Read more from Bloomberg.

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