KUALA LUMPUR, Nov 1 (Bernama) -- Cushman & Wakefield, a leading global real estate services firm (the Company), has announced the firm made a strategic investment of US$150 million on Oct 20 in WeWork, one of the leading global flexible space providers. (US$1 = RM4.146)
As part of its strategic investment, Cushman & Wakefield’s Chief Investment Officer & EVP of Strategic Planning, Nathaniel Robinson, will serve as an Observer to WeWork’s Board of Directors, according to a statement.
“Through this partnership, Cushman & Wakefield will scale WeWork’s technology offerings around tenant experience beyond their own branded spaces into the rest of the office market, giving our clients access to leading data and insights that drive optimal workplace experience and return on investment,” said Executive Chairman & Chief Executive Officer of Cushman & Wakefield, Brett White.
The two companies recently announced an exclusive strategic partnership intended to provide clients with best-in-class office operations by combining WeWork’s proprietary hospitality and technology-enabled services with Cushman & Wakefield’s industry leading asset and facilities management services.
In the time since that announcement, the firms have reported a positive reception from major institutional real estate owners and Fortune 500 occupiers, leading to early pilot programme opportunities.
The partnership will also help grow WeWork’s new landlord and tenant-focused offerings through two initiatives.
The first initiative will focus on helping building owners and corporate occupiers improve the daily user experience through use of WeWork’s proprietary software that will integrate traditional building features like access control and reservation systems with onsite hospitality and amenity programming.
Meanwhile, the second initiative will allow owners to create new revenue streams by operating flexible workspace centers within their portfolio.
While Cushman & Wakefield has served the tech industry for years, where facilities management has regularly been positioned as a critical link to managing employee engagement, the new partnership with WeWork now creates similar opportunities with Fortune 500 occupiers across all sectors.
More details at www.cushmanwakefield.com.
-- BERNAMA
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