Global firm expands presence in South Africa with first location in Cape Town

Global firm expands presence in South Africa with first location in Cape Town

80 Strand Street in Cape Town, where WeWork is taking four floors.

WeWork, the global space, community and services company with over 466 000 members, is expanding to Cape Town – the second city for WeWork to open in South Africa; where it will welcome over 590 members.

WeWork will be take four of the 11 floors at 80 Strand on a long lease agreement that includes the option to take up more space in future. It is set to open in the fourth quarter of 2019. The building is jointly owned by Emira Property Fund and Swish.

Patrick Nelson, WeWork head of real estate for Europe, Middle East and Africa (EMEA), says: “Since announcing our expansion to South Africa, we’ve seen great interest from companies of all sizes, including Naspers, which will be moving into our first location in Johannesburg later this year.

“We recently found that 54% of members globally credit WeWork for accelerating their company’s growth. Companies – both small and large – use our global membership to connect with each other, support each other’s growth, and network with like-minded individuals. We recently celebrated our 100 000th member joining WeWork in EMEA, and I hope that our members in our new space will benefit from being part of a diverse and thriving community.”

Emira chief executive, Geoff Jennett, says: “The joint investment of Emira and Swish in the recent upgrade of the 80 Strand building has created an ideal home for WeWork and its members in the city, and will no doubt become a bustling hub for growing businesses in Cape Town.”

Swish Group chief executive, Giancarlo Lanfranchi, says: “Swish and Emira have chosen the 80 Strand for their own offices in Cape Town, and we are looking forward to welcoming WeWork, its community and the energy they will add to the building.”