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40,000 m2 in 30 Days: A Black Horse in the Co-working Industry

2018/04/26

A new type of office space referred to as “co-working” is gradually being accepted by more and more enterprises for its convenience and flexibility of joining. According to the forecast of professionals in the industry, the proportion of the market size of the co-working industry will reach 1/3 of all types of office space by 2030. Currently it is only about 1%.

With only 3 years of development in China, the world’s largest market, the co-working industry has entered a reshuffling period, and the Matthew Effect has gradually appeared. As a result, constantly expanding the business scope has become the first choice of co-working players. As the industry's top companies competed fiercely, some foreign brands started a relentless buying campaign merging and acquiring enterprises of similar type to increase chips.



The competition between China and the West is inevitable, and different challengers compete for the status of number one player.

Strength:

Founded in 2015, FUNWORK was one of the first co-working brands in China. At present, there are 15 projects in operation around the country. Accumulated contract sales of its parent company SCE Real Estate (stock code 01966. HK) amounted to 33.2 billion RMB in 2017.


Development:

FUNWORK is a direct operator in terms of size and service. In April alone, FUNWORK has confirmed it will commence 10 projects in locations such as Beijing Asian Sports Village and Olympic Center area, Shanghai Lujiazui, Zhongshan Park, Nanjing West Road, Hongqiao Business Area, and Shenzhen Nanshan Business Area. 3,000 seats and 40,000 square meters of operating area will be added after completion of the projects.

Product Features

FUNWORK’s interior products have entered the 3.0 upgrade phase. From the “industrial style” that is popular overseas to the domestically prevailing “business style”, FUNWORK has been exploring how to create a joint office space that is suitable for Chinese people. “Leading the new trend of offices” has always been FUNWORK’s core vision.

“Green ecology, healthy nature, artificial intelligence are the characteristics of FUNWORK space, meeting the diverse needs of high-level people in urban areas.” “We value the office needs of each customer and pay attention to the health of each customer,” said Huang Tao, founder and CEO of FUNWORK.

“Double-glazed glass is used between rooms to enhance sound insulation; Air recycling systems and PM 2.5 filters are used; All furniture meets international environmental standards and is ergonomically designed; Meeting rooms have different themed styles to enhance interactive fun. In addition to office space, there are also functional areas such as book stores, movie theaters and meditation rooms. FUNWORK does more than create new types of office space - it focuses more on the satisfaction of every tenant's needs for a flexible working environment.



Although the top providers of co-working offices have already appeared, the absence of a uniform assessment criteria means that the position of top player in the industry remains vacant. Do you want to sit on the throne and know who is superior and who is inferior? It awaits to be seen!

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