Chinese co-working space operator Kr Space moves into Hong Kong
The company, a spin-off of technology platform 36Kr, will rent seven floors in the One Hennessy building in Wan Chai for HK$6.6 million a month
Kr Space, one of China’s biggest co-working space operators, is entering the Hong Kong market as it takes the first step in its overseas expansion.
The Beijing-based company, a spin-off of technology platform 36Kr.com, has rented seven floors – between the 11th and 19th – of the One Hennessy building in Wan Chai, which is scheduled to open next year. It will pay about HK$6.6 million per month for an area of 83,000 square feet, over HK$80 per square foot.
Hong Kong is a stepping stone for us to become an international co-working operator. We hope to be on the same level as WeWork in two to three years
“Hong Kong is a stepping stone for us to become an international co-working operator. We hope to be on the same level as WeWork in two to three years,” said Sean Qian, vice-president of Kr Space. “We are hoping to attract top-notch companies in finance, technology and other sectors to become our tenants.”
Qian said the firm is looking for other potential spaces in Hong Kong while it waits for One Hennessy to open and hopes to launch its first co-working space in the city this year.
Kr Space hopes its close relationship with 36Kr, an online platform offering news about technology and start-ups, means technology companies will be particularly interested in moving into its new office space. 36Kr is often likened to TechCrunch in the US.
One of the many industries to emerge from the so-called sharing economy, co-working spaces are office environments where people from different companies, projects or industries can work collaboratively in a shared area.