WeWork PH desk sales grew six-fold in Q1
Global flexible space provider WeWork Inc. grew its total consolidated desk sales in the Philippines more than six times in the first quarter compared to the previous year’s numbers.
Occupancy for the same period in 2022 also saw an uptick from 2021, with the Philippines experiencing a 15-point year-on-year increase and Southeast Asia garnering a 20-point bump in occupancy.
WeWork Australia and Southeast Asia General Manager Balder Tol said, “As one of the earliest markets to reopen its borders in Southeast Asia, the Philippines is also one of the fastest recovering markets in the region. The country’s agility and economic resilience [are] evident in our results and I am optimistic about the continued growth momentum here.”
With the Filipino workforce consistently expressing a strong preference for hybrid and remote work arrangements, Tol believes flexible workspaces are well positioned to support this new era of work.
WeWork’s partnership with real estate software provider Yardi will also further bolster its sales in the Philippines and the Southeast Asia region.
The partnership will merge Yardi’s industry-leading property management and enterprise resource planning software and tech capabilities with WeWork Workplace’s booking capabilities to create a universal platform designed to enable companies to optimize space across their portfolio and manage hybrid work models.
The enhanced WeWork product is expected to launch commercially in July 2022.
