WeWork’s starry valuation dazzles landlords

WeWork’s starry valuation dazzles landlords
13/05/2019 , by , in INTERNATIONAL

WEWORK’S US$47 billion valuation as it heads toward what may be the year’s largest initial public offering after ride-hailing firm Uber has made the flexible office space start-up the envy of landlords and the target of sceptics at a time when rents have barely kept pace with inflation.

To commercial real estate’s old guard, many of whose stock prices have gone sideways or worse for half a decade, WeWork – the main unit of recently renamed The We Company – is a disruptor leading the charge toward the shrinking of workspace with a business model unhindered by property ownership.

To its doubters, WeWork is another unprofitable unicorn they question has the ability to flourish in anything other than a hot economy.

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