WeWork Doubled its Losses in 2018 Due to Global Property Purchases

27 March 2019 – Eje Prime

The US co-working company WeWork doubled its losses in 2018 to USD 1.9 billion (€1.7 billion), due to the huge outlay it made expanding its business around the world. Nevertheless, it did also double its revenues to USD 1.8 billion (€1.6 billion).

The company founded by Adam Neumann in 2010 closed 2018 with shared offices in more than 100 countries as well as rental contracts with several major corporates, such as Microsoft, Adidas and Citigroup, which account for one third of its tenants.

The valuation of the company, which leases space to 401,000 people globally, amounts to USD 47 billion. In Spain, the company has five spaces in Barcelona and four in Madrid, with new openings imminent.

Original story: Eje Prime

Translation/Summary: Carmel Drake

Urbania to Open 2 Coworking Offices in Barcelona in September

16 July 2018 – Eje Prime 

Urbania is diversifying within the real estate market by investing in more sectors on the rise. After launching Syllabus, its brand specialising in halls of residences for students, just a few months ago, the group is now promoting coworking offices and shared working spaces across the country, according to a statement issued by the company.

Monday is the name that the group has chosen for this new venture, which will inaugurate its first two office centres in Barcelona in September. Both will have a surface area of 2,000 m2, with capacity for 200 people and they will be located in La Barceloneta and on Avenida Tibidabo in the Catalan capital.

In addition, Urbania has explained that it is considering opening two new premises in Barcelona before the end of the year. This first phase will be the kick off to an “ambitious” national expansion plan, although the company declined to share further details in this regard.

The coworking in La Barceloneta will be located opposite the sea and beach of the same name, whilst the office on Avenida Tibidabo, at the opposite end of the city, in the foothills of the mountains, will have a gym, squash courts and a swimming pool. Monday has already started to market its first two spaces and expects to have 50% of the two centres reserved within the next few weeks.

Original story: Eje Prime

Translation: Carmel Drake