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WeWork concerns are seeping into Singapore's real estate sector

Bloomberg
Bloomberg10/2/2019 02:45 PM GMT+08  • 2 min read
WeWork concerns are seeping into Singapore's real estate sector
SINGAPORE (Oct 2): Concerns about WeWork Cos. may amplify the negative impact of a weakening economy on Singapore’s commercial real estate investment trusts, according to Credit Suisse Group AG.
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SINGAPORE (Oct 2): Concerns about WeWork Cos. may amplify the negative impact of a weakening economy on Singapore’s commercial real estate investment trusts, according to Credit Suisse Group AG.

Poor sentiment on the company could further damp demand for co-working spaces amid slowing gross domestic product growth, hurting office REITs, analysts led by Nicholas Teh wrote in a report.

“Office REITs have mentioned in recent briefings that corporate demand has slowed, while the narrow drivers are tech and co-working,” the analysts wrote. “There are growing market concerns around the sustainability of co-working demand, going forward.”

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