WeWork collaborates with Generali on a total real estate solution to create a workplace for the future
● WeWork has built a customized office space for Generali’s regional headquarters and Hong Kong business entities at Cityplaza One, Taikoo Shing
● WeWork enabled the solution by creating liquidity in the commercial real estate market through a multi-faceted and creative approach to office space
● The new premises will provide Generali’s employees with a work environment that is more agile, collaborative, inclusive and sustainable.
WeWork today announced its collaboration with Assicurazioni Generali S.p.A. (“Generali”), one of the largest insurance providers globally, to take on the lease of its former Asia regional headquarter and Hong Kong business entities at 8 Queen’s Road East in Hong Kong’s Admiralty district and create a new customized office at Cityplaza One, Taikoo Shing. Through this partnership, WeWork has worked with Generali to create a more agile, collaborative, inclusive and sustainable workspace that supports delivery of the insurer’s strategy and enhances its service to its customers. The design of the workspace will also help to nurture creativity and strengthen team collaborations among the company’s employees well into the future.
Space liquidity at the heart of an innovative real estate solution
As WeWork’s business evolves and grows, so does its ability to optimize solutions in real estate markets. In this instance, Generali was looking to exit a long-term lease at its former premises and find a new office space to better support the delivery of the company’s strategy. To make this work, WeWork created liquidity in an illiquid market by taking on a new lease for the entire 8 Queen’s Road East premises, which enabled Generali to find a new workspace at Cityplaza One that better matched its business needs. Not only did the move benefit Generali, but also the landlord and other stakeholders.
A new home that drives efficiency, innovation and collaboration
With the new collaborative space provided by WeWork, Generali can now accommodate all of its teams within one open environment to facilitate closer partnerships among its employees across the Asia Regional Office (Generali Asia) and the Hong Kong businesses, Generali Life (Hong Kong) Limited and Assicurazioni Generali S.p.a. – Hong Kong Branch (Generali Hong Kong) and the regional offices of its global business lines.
“As its integrated real estate sourcing, design and construction partner, WeWork worked closely with Generali to source and identify the most suitable real estate assets for the relocation. WeWork’s in-house designers and project delivery team also conducted an in-depth analysis of the new premises before transforming it into an agile, collaborative, inclusive and sustainable workspace that showcases WeWork’s enterprise product and platform,” said Alan Ai, General Manager, WeWork Greater China. “Moving forward, WeWork will continue to transform Generali’s former space at 8 Queen’s Road East into a dynamic and enterprise-first hub for work in the heart of Hong Kong, while Generali will leverage WeWork’s global platform and network of physical space to support the expansion of its business around the world.”
Commenting on the new workspace, Rob Leonardi, Regional Officer for Generali Asia, said, “We are pleased with the design of our new office that has already provided a better operating environment for our employees and greater connection among our teams. The move to a new workspace signifies a key milestone in supporting our shift towards a culture that embraces our customers and distributors as Lifetime Partners and ensuring that as one team, we can deliver our strategy and ambition.”
Rethinking an insurance office
Generali’s newly customized space on two floors breaks away from the traditional work environment of an insurance company by fusing unique aesthetic elements inspired by Italian architecture, Generali’s corporate culture and its brand aspirations. Coupled with WeWork’s community spirit, the customized space integrates additional communal areas, including an Italian coffee bar that not only provides an employee benefit but helps to create a stronger connection to the organization. There is also a variety of functional workspace zones to help facilitate communication and collaboration.
Integrated enterprise solutions to fulfill changing needs of large enterprises
Evolving into a new era of work, enterprises are looking to create a work environment with experience that attracts and retains top talent. WeWork enables corporates to leverage its expertise to identify, build, customize and operate their dedicated office space, where they can increase employee’s productivity and engagement, as well as optimizing the workplace’s efficiency. According to WeWork’s Global Impact Report, WeWork is 2.5 times more efficient with space than a typical office. By partnering with WeWork, real estate leaders can optimize their space precisely for their business by taking advantage of WeWork’s economies of scale in design and build and data-driven operation.
Currently, about 40% of WeWork’s memberships across the globe are large enterprises with more than 500 employees, while 38% of Global Fortune 500 on WeWork’s membership list. Levering WeWork’s extensive global network, these enterprises partner with WeWork to navigate various market dynamics, nurture its employees and enable corporation innovation with enhanced employee experience.