(photo credit: Courtesy)
Office co-working space WeWork plans to open its first office in Jerusalem, The Jerusalem Post has learned, in addition to opening two more Tel Aviv locations and expanding its Herzliya Pituah space.
“WeWork Israel will open its first Jerusalem location in mid- 2017,” Benjy Singer, WeWork Israel’s general manager told the Post.
WeWork is transforming the iconic Hamashbir building on King George Avenue into what will be its seventh location in Israel.
While reports have circulated about WeWork’s plans in Jerusalem, this is the first official confirmation by the company about its plans and their timing in Jerusalem.
According to the company, the Jerusalem Municipality’s plan to revitalize the building and change its usage will include a substantial addition of space on the first two floors to create a commercial center, while the next two floors will become the WeWork space.
The Tel Aviv expansions, to be completed in 2016, will see new offices opened on 30 Ibn Gvirol Street in the city’s center and 10 Hazerem Street, in Jaffa, not far from Bloomfield Stadium.
“Tel Aviv is a priority market for WeWork, and our major expansion in the city in the past few months pays testament to that fact,” said Singer. “We’re especially excited to play a part in the changing landscape of south Tel Aviv with the opening of our Hazerem location.
The neighborhood is currently undergoing a transformation, and WeWork’s staff and members will add to the vibrancy of the community being built there,” he added.
The company already has locations on Dubnov Street and Sarona in Tel Aviv and another in Beersheba.
WeWork, whose CEO and co-founder, Adam Neumann, is Israeli, has been on a growth kick in 2016, adding new locations in Montreal, Mexico City, Berlin, Shanghai and Seoul. In addition to its first Jerusalem location, it also has plans to expand to Paris in 2017. Currently, the company has 83 locations around the world.
The co-working space has been a hit among Israel’s startups, many of which want a flexible office space without the commitments or hassles of moving into a full office as they grow. It’s also, however, been a home to big companies and institutions staking out a presence in certain cities.
In Israel, for example, it is home to Uber, Bank Leumi’s fin-tech subsidiary Leumi Tech, and Ben-Gurion University’s Innovation Labs.