Sharing Economy

Covid-19 puts co-working business model to the test

Office sharing in the time of Covid-19 sounds impossible, but Hong Kong coworking space provider The Executive Centre sees light at the end of the tunnel even as competitors flail.

Until now, there have been very few speed bumps on the coworking industry’s road to expansion, paying homage to the idea that sharing is caring. Between 2013 and 2017, space dedicated to flexible workplaces in Asia averaged 50% year-on-year growth according to a report by American real estate group CBRE.

With coronavirus pandemic forcing workers to practice social distancing while companies adapt work from home contingency plans, a new normal surfaces emerges for the immediate future.   

“This Covid event is our fifth economic recession,” remarked Paul Salnikow, the founder and chief executive of The Executive Centre, an operator for upscale office and co-working...

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