Major flexible workspace providers in APAC 2022, by total funding

Flexible workspace has emerged as a growing trend across the Asia-Pacific region, with WeWork China receiving over 1.2 billion U.S. dollars’ worth of funding as of 2022. Another Chinese operator Ucommune fell behind WeWork China with a total funding of 770.87 million dollars during the same year.

Who are the leading operators?

Although Western companies such as Regus and WeWork dominate the global flexible workspace market, Asian coworking spaces have paved their way into the industry. As well as well-known operators such as Ucommune and CoHive, independent flexible workspace providers have gained popularity across Asia Pacific cities. Alongside the development of independent flexible workspace providers, up and coming Asian flexible workspace center providers have demonstrated significant expansion.

The growth of flexible workspace

Flexible workspaces have seen a dramatic growth throughout the entire world from 2005 onwards. Asia Pacific has certainly identified itself globally as having displayed a strong enthusiasm for flexible office space and exhibited the highest number of flexible workspaces worldwide in 2019. The temporary workspace environment suits the Asia Pacific business market perfectly, as these workspaces are often cheaper than traditional offices and fit the uncertain nature of startups which are prevalent across the region.