Realty developers join co-working market in China

Co-working space operators such as WeWork are facing increasing competition in the booming sector, and it's not just fellow service providers like Regus that are a threat to their market share - even property developers are getting in on the action.

For example, integrated real estate company Kaisa Group Holdings opened its first co-working space in downtown Shanghai on June 15. This is the conglomerate's first attempt at combining co-working services with a shopping mall.

A month ahead of this opening by Kaisa, Singaporean developer CapitaLand Group unveiled its own co-working project in northeast Shanghai.