Flexible space provider WeWork and real estate giant Cushman & Wakefield have entered into a strategic partnership to navigate the new post-pandemic world of remote working and flexible workspace.
The partnership is intended to provide clients with office operations by combining WeWork’s proprietary platform of workplace experience management software and hospitality experience with Cushman & Wakefield’s asset and facilities management services.
Together, WeWork and Cushman & Wakefield will "work to unlock opportunities to provide landlords and businesses with the ability to create a differentiated workplace experience for tenants and employees in the new hybrid world of work where flexibility remains at the forefront".
As a part of the partnership, Cushman & Wakefield will provide $150 million [about £108 million] as an investment in a planned merger between WeWork and BowX Acquisition which would help to reposition WeWork, which has been near collapse financially in recent years.
Sandeep Mathrani, CEO of WeWork, said: “As Covid-19 has fundamentally changed the way people work, businesses and landlords have had to rethink their approach to workspace. Partnering with Cushman & Wakefield will combine WeWork’s industry-leading workplace experience management platform and hospitality-driven community teams with Cushman’s world-class global client and property portfolio to create a solution that helps both landlords and businesses meet the demand for flexible workplaces to fit the changing needs of today’s workforce.”
Cushman & Wakefield Executive Chairman & CEO, Brett White, said: “With flexible workspaces being an important component of the hybrid workplace, we’re excited to partner with WeWork to demonstrate how global occupiers and investors will benefit from the power of two global leaders providing unmatched accessibility to flexible offerings, best-in-class technology and a seamless tenant experience.”