LHN expects limited potential for co-working amid WeWork collapse

REAL estate management company LHN does not see the co-working space as an area with good growth potential, and is not looking to actively expand its business in the segment.

Instead, it will continue to focus on co-living and storage solutions for its space optimisation business, where it offers co-working facilities as part of a building’s shared amenities, said Kelvin Lim, executive chairman, executive director and group managing director of LHN.

This comes as co-working company WeWork last week raised “substantial doubt” about its ability to continue operating, citing sustained losses and cancelled memberships to its office spaces.