CDL buys 24% stake in China co-working space operator Distrii

Singapore

SINGAPORE-LISTED property group City Developments Limited (CDL) has signed an agreement to invest 72 million yuan (S$14.8 million) for a 24 per cent stake in Distrii, an operator of co-working spaces in China.

Distrii, making its first foray outside China, will be leasing more than 60,000 square feet of space at CDL-owned Republic Plaza Tower 1 in Singapore's Central Business District.

The Singapore space for Distrii is expected to be one of the largest co-working spaces in the Republic. It will integrate food and beverage, entertainment, recreational and office …