New York-headquartered WeWork will set up shop in Costa Rica. The shared-workspace company’s new location in San Jose is expected to be operational by the end of 2019.
WeWork, with over 101 locations globally, aims to transform local business while leveraging Costa Rica as a gateway to the Central American region. As such, Costa Rica joins the group’s operations in Mexico, Brazil, Colombia, Peru, Chile, and Argentina.
WeWork’s first Costa Rica site will be located at Project C3 (formerly Real Cariari), over highway General Cañas in San Antonio de Belen. It will be housed in a 6-storey building through an alliance with Portafolio Inmobiliario. The facility can host about 2.000 people which will add to the company’s current global community of over 450.000 members, 45% of which have confirmed being able to grow their business since joining WeWork.
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Founded in 2010 and now valued at over $47 billion (2018), WeWork sees Central America as a key market to continue its global footprint growth and further connect the Americas.
Jorge Sequeira, Managing Director for the Costa Rican Investment Promotion Agency (CINDE) said “we are excited that WeWork has decided to invest and open its operations in our country. Without a doubt, this will be of great value to continue driving Costa Rica’s collaborative ecosystem and boost innovation to further position our nation as a strategic ally in the knowledge economy.”
The sort of shared space that WeWork provides isn’t just going to appeal to independent Tico entrepreneurs looking for affordable office space for their startups, though. Shared workspace may also attract a greater number of digital nomads to Costa Rica, potentially increasing opportunities for tourism-related businesses throughout the country.