CUSHMAN & WAKEFIELD-WEWORK PARTNERSHIP TO DELIVER INNOVATIVE FLEXIBLE SPACE OPERATING PLATFORM

KUALA LUMPUR, Aug 11 (Bernama) -- Cushman & Wakefield, a leading global real estate services firm, and WeWork, one of the leading global flexible space providers have entered into an exclusive strategic partnership to market both landlords and businesses on WeWork’s management experience platform and on new jointly developed solutions.

The partnership is intended to provide clients with best-in-class office operations by combining WeWork's proprietary platform of workplace experience management software and hospitality experience with Cushman & Wakefield’s industry-leading asset and facilities management services.

“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,” said Cushman & Wakefield Executive Chairman & Chief Executive Officer (CEO), Brett White.

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.

“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,” said WeWork CEO, Sandeep Mathrani.

In addition, Cushman & Wakefield, WeWork and BowX Acquisition Corp are in discussions regarding a potential transaction where Cushman & Wakefield would provide up to US$150,000,000.00 in a non-dilutive backstop equity facility on mutually agreeable terms. (US$1 = RM4.240)

According to a statement, the Facility would be subject to required approvals and the expiration or termination of any applicable waiting periods under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended.

More details at www.cushmanwakefield.com.

-- BERNAMA