Ucommune Announces Development of a 30,688-Square-Meter Asset-Light Project in Datong as Part of Its City Partner Program

Ucommune International Ltd., a leading agile office space manager and provider in China, announced that the Company will develop another asset-light co-working project. The project is located in Datong, Shanxi Province and will have 1,500 workstations in a managed area of 30,688 square meters.

The “Datong Young Entrepreneurs Village – Ucommune” co-working project (the “Project”) is one of Ucommune’s flagship projects under its asset-light business model. The Company will provide a broad range of managed services to its landlord partner, including design, decoration, marketing, smart management systems, community events, and value-added services for tenants. Ucommune’s standardized operating model will allow its landlord partner to better utilize its idle land assets, thereby unlocking and generating greater value. The Project is currently under construction and is expected to be completed in April, 2022, entering operation on June 1, 2022. Each of the building’s six stories possesses its own specifically designed functional orientation.

HR Technology News: Workpay Partners With Kwara to Offer Streamlined HR & Payroll Services to SACCOs in Kenya

Ucommune has made steady progress in developing its asset-light business model and has expanded its footprint into the majority of tier-one and tier-two cities in China. As of September 30, 2021, Ucommune’s total number of spaces contracted under its asset-light model had increased to 165 spaces located across 54 cities, while total managed area under contract for the asset-light model reached 502,000 square meters.

Ucommune’s “City Partner Program” is part of its initiative to explore opportunities in tier-three and tier-four cities that have strong business potential. The program connects the Company with potential partners and was launched on June 4, 2020. At present, Ucommune has entered into cooperation agreements with six City Partners in Shenyang, Quanzhou, Sanya, Zhengjiang, Datong, and Nanchang.

HR Technology News: Ceridian Acquires Adam HCM to Extend Global Leadership

Mr. Chen Haichao, Ucommune’s City Partner in Datong and Sponsor of the Project, commented, “Ucommune’s nationwide brand awareness and large scale of operations have laid a solid foundation for our cooperation. Leveraging Ucommune’s capabilities and experience of workspace operations and management, we are confident that we will quickly develop this Project into a benchmark co-working space in Datong and provide standardized and premium services to local start-ups.”

Dr. Daqing Mao, Founder of Ucommune, stated, “We remain committed to sourcing large-scale projects through various channels, including the City Partner Program, to drive the continued development of our business. This Project marks the 14th of our contracted projects with managed area of more than 10,000 square meters. We will continue to leverage our experience in the operations and management of large-scale projects to unleash the value of existing working spaces through our asset-light business model.”

HR Technology News: Monster.com in Association With Microsoft Launches ‘Velocity’: Virtual Career Fair for Microsoft Certified Cloud Professionals