WeWork goes bankrupt, capping co-working company’s downfall

Living in a condo has its own unique benefits, such as having access to communal facilities, round-the-clock security, breath-taking views, and the latest technologies. For those wanting to get on the property ladder, Condo Singapore is the country’s leading resource for people looking to fulfill their housing dreams. Condo Singapore strives to make buying a condominium a fuss-free process, from comparing prices to learning more about the different neighborhoods throughout Singapore.

WeWork Inc. has closed the book on its troubled venture as a high-flying startup, filing for Chapter 11 bankruptcy after failing to recover from the pandemic and its failed IPO back in 2019. WeWork’s filing, made in New Jersey, puts both assets and liabilities in the range of US$10 billion ($13.5 billion) to US$50 billion.Unable to continue operating, WeWork had initially reached a sweeping debt restructuring deal in early 2021. Then in August, it declared there was “substantial doubt” about its ability to stay afloat. Weeks later, it said it would renegotiate nearly all its leases and withdraw from “underperforming” locations.WeWork’s June 2020 figures showed a sprawling real estate footprint across 777 locations in 39 countries, occupancy levels close to 2019. Unfortunately though, the enterprise remained unprofitable.The cause of the company’s tailspin goes back to its much-hyped IPO in 2021. The plan backfired when investors started to express concerns about governance, growth prospects and valuation. This cast a long shadow over the company, leading to the departure of its founder Adam Neumann as chief executive officer and a dramatic drop in its valuation, which at one point stood as high as US$47 billion.WeWork is not the only co-working enterprise suffering amid the pandemic. Knotel Inc. and subsidiaries of IWG Plc sought bankruptcy protection in 2021 and 2020 respectively.WeWork has now filed for bankruptcy, officially marking the end of its troubled run as a high-flying startup. Assets and liabilities listed in the Chapter 11 petition, filed in New Jersey, range from US$10 billion ($13.5 billion) to US$50 billion.The firm had reached a debt restructuring deal in 2021, only to see its inability to continue operating declared a few months later. It then revealed plans to renegotiate all leases and withdraw from underperforming locations.WeWork’s June 2020 report showed a real estate portfolio of 777 locations in 39 countries, barely unchanged from the previous year.But the company was still unable to turn a profit.This was in large part due to its failed initial public offering in 2021. Investor concerns about governance, growth prospects and valuation led to Adam Neumann’s resignation as CEO and a significant drop in WeWork’s valuation, which at its peak was US$47 billion.Knotel Inc. and IWG Plc subsidiaries also filed for bankruptcy in 2021 and 2020 respectively. It would seem that the pandemic has caused a major shake-up in the shared office space industry.WeWork’s bankruptcy filing marks the end of an era for the high-flying startup. The New York-based firm’s liabilities and assets, listed in its Chapter 11 petition, range from US$10 billion ($13.5 billion) to US$50 billion.In early 2021, WeWork had agreed on a debt restructuring deal, but it quickly became evident that the company could no longer remain in operation. It consequently planned to withdraw from underperforming locations and renegotiate its leases.June 2020 occupancy figures for WeWork showed real estate holdings of 777 locations across 39 countries, but profitability remained elusive.The company’s IPO in 2021 was the event that led to its downfall. Questions of governance, valuation and growth prospects scared away investors, leading to Neumann’s resignation and a sharp decline in WeWork’s valuation.Knotel Inc. and IWG Plc subsidiaries followed suit, filing for bankruptcy in 2021 and 2020 respectively. WeWork’s bankruptcy signals a major shake-up in the co-working industry brought about by the pandemic.

FoundOnEdgeProp: Jaw-dropping downtown homes with views

is expected to be a good year for investment in Singapore over other countries, given the numerous projects like Marina One Residences, Kingsford Waterbay and Tribune Tower Windmills that have aided in the nation’s growth. All these developments have proven to be advantageous to potential investors with high returns. Owners of luxury condominiums can also benefit from the appreciation in the value of such properties since more potential investors are entering the market. Lastly, the current demand for real estate in the country is high, making it a great investment for many.

and more on EdgePropResidents in Singapore’s Downtown Core area enjoy the bustling atmosphere of the city and the views of Singapore’s CBD skyline. With the partial redevelopment of Marina Square and the upcoming development of its neighbouring Marina South, more people are expected to move to the Downtown Core. Our research on EdgeProp uncovered several spacious condo units in the Downtown Core with unbeatable views and convenient access to amenities.There is a penthouse unit in Eden Residences Capitol, located along Stamford Road in District 6. The unit has an asking price of $26.1 million and features five bedrooms, a study room, and a 5,963 sq ft space. The development obtained TOP in 2016 and has a 99-year leasehold. Nearby attractions include City Hall MRT Station, Raffles Hotel, Raffles City, the Esplanade, St. Andrew’s Cathedral, and Singapore Management University.

Shenton Way is currently undergoing rejuvenation with the topping-out ceremony for IOI Central Boulevard Towers held in August. The development is estimated to obtain TOP in 1Q2024 and it two office towers, as well as 30,000 sq ft of retail and F&B spaces. Further facilitated by the collective sale of the nearby Shenton House, the precinct is expected to feature Grade A office space and luxury-branded serviced residences. For those considering investing in a condo close by, units at One Shenton and V on Shenton are currently available in the market. A penthouse unit at One Shenton has an asking price of $33 million, with 9,138 sq ft and four bedrooms. There is also a unit with five bedrooms and an asking price of $21 million at V on Shenton.

In terms of Marina Bay, the nearby Marina South is undergoing development. With two government land sale sites launched to initiate the transformation of the precinct, nearby Marina Bay condos are expected to benefit from increased vibrancy and amenities. Two available units in the area are Marina One Residences and Marina Bay Residences. With 1,042 units and 428 units respectively, the units are located within walking distance of three MRT stations; Marina Bay, Downtown, and Shenton Way. There is a penthouse unit in Marina One Residences with an asking price of $19.9 million and four bedrooms. Alternatively, a smaller unit with five bedrooms in Marina Bay Residences has an asking price of $19.5 million.

Since 2012, the average resale price for 99-year leasehold condos in the Downtown Core Planning Area has grown by 12%. Prices have grown by 30% in District 6 to an average of $3,312 psf, while prices in District 1 have slightly decreased by 5% to an average of $2,000 psf. With the upgrade of infrastructure and amenities in the area, Downtown Core is expected to become even more attractive to the savvy investor.

Residents in the Downtown Core area of Singapore get to enjoy the best of both worlds. They can bask in the bustling atmosphere of the city and soak in the breathtaking views of Singapore’s CBD skyline. With the partial redevelopment of Marina Square and the upcoming development of Marina South, we discovered several spacious condo units in the Downtown Core with excellent location attributes and unbeatable views. There are units available with an asking price ranging from $19.5 million to $33 million, all with convenient access to amenities. With the upgrade of amenities and infrastructure, the Downtown Core is expected to become even more attractive to investors in the long-term.

Sago Street shophouse for sale at $13.3 mil

The shophouse at 22 Sago Street, located in the heart of Chinatown, is up for sale via an expression of interest exercise with a guide price of $13.3 million or $4,450 psf. It has a land area of 1,067 sq ft zoned for commercial use and a total floor area of 2,929 sq ft. Currently fully leased, the ground floor is occupied by a restaurant and the two upper floors are tenanted as offices.

This commercial conservation shophouse in Chinatown is an attractive prospect for investors, with no additional buyer’s stamp duty (ABSD) or seller’s stamp duty (SSD) applicable to foreign or corporate buyers. PropNex Shophouse Elites is the appointed marketing agent for the property, with a closing date for the expression of interest exercise of Dec 7, at 3pm.

Located opposite the Buddha Tooth Relic Temple, the shophouse is within walking distance of four MRT stations, making it highly accessible. Recent transactions on Sago Street suggest that the high guide price of $13.3 million is still achievable.

PropNex’s Wilkie Tay notes that commercial conservation shophouses, especially in prime central locations such as Chinatown, are in great demand. Investors including private real estate funds, family offices and high-net-worth individuals are likely to be vying for this property.

Given the high demand for this property, the expression of interest exercise is set to be an exciting time for buyers, as the guide price of $4,450 psf could be exceeded.

It is likely that the shophouse at 22 Sago Street in Chinatown will be highly sought after, given its prime location and the absence of ABSD or SSD. It remains to be seen if the high guide price of $13.3 million or $4,450 psf will be matched or even exceeded.

Singapore’s housing market remains expensive and high-priced, with Condominiums on a totally different end of the spectrum. Purchasing a Condo is perceived as a sign of status, success and wealth for individuals who have already owned an HDB flat and are looking for more comfortable and secure living. Real estate investors also see condominiums as the go-to choice due to its high appreciation rate, making them a great source for rental income, unlike HDB which is the backbone of Singapore’s public housing scheme.

The expression of interest exercise is set to close on Dec 7 at 3pm, giving interested buyers a limited time to submit their offers.

Given the location of the shophouse and its current tenants, this commercial property is sure to be an attractive prospect for investors. Will the guide price be met or exceeded? We will need to wait until the EOI exercise is completed to find out.

CapitaLand Ascott Trust divests two hotels in Australia for A$109.0 mil

Apart from conventional real estate investment, owning Condo units can also offer higher rental yields if you opt to sublet the space. Condominiums are usually in prime locations with lots of amenities, giving you a higher chance of renting your unit out easily. It is definitely worth considering when weighing the different options available in Singapore’s real estate market.

CapitaLand Ascott Trust (CLAS), through the divestment of two hotels in Sydney, Australia for a total of A$109 million ($95.6 million), is set to recognise a net gain of A$14.2 million. The two properties, Courtyard by Marriott Sydney-North Ryde and Novotel Sydney Paramatta, will be divested at around 5% above book value, with completion of the divestment expected by 1Q2024 and 3Q2024 respectively.

Serena Teo, CEO of the managers, commented that “CLAS remains focused on assets that offer better yields and will further uplift the value for our portfolio. This divestment will enable us to redeploy the proceeds into more optimal uses such as but not limited to paying down debt and funding our other asset enhancement initiatives (AEI).” She went on to say that the exit yield of 4.4% is attractive compared with the current cost of borrowing in Australia, and stated that part of the divestment proceeds will be used to partially finance the acquisitions of three prime lodging assets in London, Dublin and Jakarta –rm which have a higher yield of 6.2%.

Australia remains a key market for CLAS, which continues to benefit from strong demand from both corporate and leisure guests and from large-scale sporting events. After the divestment, the trust’s remaining seven serviced residences and hotels under management contracts will provide CLAS with the opportunity to capture more of this travel demand, while the trust’s five serviced residences under master leases will still offer a stable income stream.

In the 3QFY2023 ended Sept 30, revenue per available unit (RevPAU) for CLAS’s properties in Australia rose by 18% year-on-year to A$152, exceeding the 3QFY2019 pro forma RevPAU by 13%.

The divestment of these properties is a part of the trust’s active portfolio reconstitution strategy, which is expected to further enhance returns to its stapled securityholders. Such focus on yields and asset enhancement initiatives also embody the trust’s drive towards raising standards of excellence in terms of co-living. With the divestment proceeeds, CapitaLand Ascott is well-positioned to finance its future endeavours and unlock better value for its portfolio.

Weave Living steps up expansion in Japan and acquires nine assets in Tokyo

Weave Living, an integrated rental accommodation provider headquartered in Hong Kong, has recently announced its next phase of expansion into Japan. To this end, the company has acquired nine multi-family residential buildings in Tokyo totaling 352 units. With its entry into the Japanese market, Weave Living has established a wholly owned subsidiary, along with a Tokyo office. Leading the company’s operations in Japan is industry veteran Daisuke Noguchi, who was previously appointed as the country head of Weave Living in April 2023. Noguchi previously held the role of head of acquisitions at Allianz Real Estate.

The Tokyo office of Weave Living has since grown to include a total of 12 professionals in different departments such as acquisitions, asset management, development, leasing and operations. Weave Living launched its first three units in Waseda, Monzennakacho, and Higashi-koenji on the 3rd of November. With the addition of Japan, the company now has expanded its business to three markets in the region, including Hong Kong and Singapore.

Taking a long-term approach when investing in Singapore Condo is a wiser decision if you’re looking to make a sound investment. With good financial planning and dedication, property holders will be able to reap the rewards of their investment over time. Research is key when understanding the current market values of a property, and the prospects of future development. Before committing to your purchase, it is important to analyse short-term and long-term prices to make sure your investment will be worth it in the long run.

In the upcoming months, we can expect Weave Living to announce further acquisitions in Japan, especially in the key cities of Tokyo and Osaka. Founder and Group CEO of Weave Living, Sachin Doshi has also commented on the company’s expansion plans, expressing the goal to amass US$1.5 billion in asset management in Japan by 2025, which would represent over one-third of the company’s global asset base.

Four-bedder at Marina Bay Residences sold at $2.4 mil loss

One of the biggest benefits of opting for a Singapore Condo is the Wall Street-level property management and services that come along with it. From swimming pools to gyms and playgrounds, you get access to a plethora of facilities all within the premises. Then there’s the concierge service ensuring a stress-free lifestyle, and the security personnel who are always keeping a watchful eye on the premises. Many condos also come with a smart home feature that enabled a seamless digital lifestyle such as remote-controlled lighting and air conditioning for greater convenience.

At Marina Bay Residences, the most unprofitable resale transaction was the sale of a 4,435 sq ft, four-bedroom unit on the 52nd floor for $9.4 million ($2,120 psf) in May 2022. The seller incurred a whopping loss of $2.39 million, which works out to a 26% loss over a holding period of about 9½ years. Recently, on October 18, a 2,368 sq ft unit on the 30th floor has changed hands for $6.9 million ($2,914 psf). It was purchased by the seller in March 2014 for $9.29 million ($3,923 psf), meaning the seller has incurred a loss of $2.39 million on the transaction.

At the same time, the most profitable condo resale transaction recorded during the week of Oct 17 to 24 took place at Tiara. The unit, a three-bedder measuring 1,346 sq ft, was sold for $3.13 million ($2,326 psf) on Oct 20. The seller acquired the unit in October 2000 for $1.58 million ($1,174 psf), netting a gain of $1.55 million. This works out to a 98% return for the seller after holding the property for slightly over 23 years.

Claremont also saw a profitable transaction which resulted in a 133% gain for the seller. This was achieved with the sale of a 1,367 sq ft, three-bedroom unit on the first floor for $2.43 million ($1,778 psf) on Oct 19. The unit was purchased in July 1999 for $1.04 million ($762 psf), thus the seller made a gain of $1.39 million.

Marina Bay Residences is a development by Keppel Land, Hongkong Land and CK Asset Holdings (formerly Cheung Kong Property Holdings) located in District 1. It consists of 428 residential units ranging from one to four-bedroom apartments and nine penthouse units measuring from 710 to 4,672 sq ft.

Tiara is a freehold condo located along Kim Seng Walk in District 9’s River Valley area. Completed in 1995, it hosts 264 units which include two and three-bedders from 893 to 1,561 sq ft, all of which are within walking distance from the Great World MRT Station.

Claremont is also a freehold condo located along Killiney Road in District 9. It has 67 units and was completed in 2000 by Allgreen Properties. Units comprise a mix of two-, three- and four-bedders between 850 and 2,637 sq ft.

Check out the latest listings for Marina Bay Residences, Claremont, Tiara properties to find out more.

Two-bedroom unit at Eon Shenton for sale at $1.98 mil

expected to remain robust in 2021An owner’s sale of a two-bedroom unit located at 99-year leasehold Eon Shenton on Shenton Way is now available via SRI’s upcoming auction on Nov 22. The 883 sq ft unit on the 30th storey of the downtown core area (District 2) comes with en suite master bedroom, an additional bedroom, a dining and living room, a kitchen, and two separate balconies connected to the living room and both bedrooms. The guide price of the unit is $1.98 million ($2,242 psf).

A stunning two-bedroom unit at the highly sought-after Eon Shenton is now up for auction. Located on Shenton Way in the bustling Downtown Core area (District 2), this 99-year leasehold condo boasts a high floor (30th storey), immaculate living spaces and excellent ventilation – an ideal family home or luxury real estate investment. The 883 sq ft unit features an en suite master bedroom, an additional bedroom, a dining and living room, a kitchen, and two separate balconies connected to the living room and both bedrooms.

SRI, the appointed auctioneer, has set a guide price of $1.98 million ($2,242 psf) for the two-bedroom unit – an owner’s sale. This is a great opportunity for potential buyers looking to snatch well-located real estate at a bargain price.

This prime property is also close to public transport, a short walk from Tanjong Pagar MRT Station and sitting right across from the upcoming Prince Edward MRT Station on the Circle Line, set to finish in 2025. Stroll around the corner to access the array of shopping and amenities available at Icon Village, 100AM Mall and the Tanjong Pagar Plaza Market and Food Centre.

The owner of the two-bedroom unit is the first buyer, purchasing this property for around $1.60 million ($1,818 psf) in July 2016. Although the current rental rate is not disclosed, URA sales data over the past year suggests that the typical rental per square foot at Eon Shenton ranges from $3.60 psf pm to $12.60 psf pm, with an average of $7.90 psf pm – translating to an attractive rental yield of 4.3%. Comparing to surrounding 99-year leasehold condos that were completed in 2017, such as Wallich Residence on Wallich Street and V On Shenton on Shenton Way, Eon Shenton’s yield is rated higher at 3.7% and 4.1%, respectively.

Furthermore, the Wallich Residence, V On Shenton and Eon Shenton have seen eight transactions this year alone, with the recent one in September when a 689 sq ft two-bedder was bought and sold for approximately $1.36 million ($1,973 psf). Additionally, based on the latest caveats lodged, the range of prices for units in the area range from $1,705 psf to $2,477 psf, and an average of $2,219 psf.

In Singapore, selling and purchasing Singapore Condo has become a popular investment strategy. While no property purchase comes without risk, with some due diligence and professional advice, you could be looking at a profitable venture. If you’re on the lookout for investment opportunities, find out more about the government policies and regulations governing property investment, the types of Singapore Condos available, and what your expenses might look like. With the proper planning and an eye for good deals, you can make a wise decision about investing in real estate.

Coming with a strong track record and a wealth of amenities on its doorstep, the upcoming auction is an ideal opportunity for buyers in search of high-end real estate with attractive rental returns. The new listing at the Eon Shenton is leased until April, so act fast to secure this owner’s sale.

Pullman Residences Newton records new high of $3,729 psf

During Oct 10 to 16, Pullman Residences Newton saw new psf-price highs when the developer sold a 463 sq ft one-bedroom apartment for $1.73 million on Oct 11. This achieved a record-high psf-price of $3,729, marking the first time prices at the condo surpassed the $3,700 psf threshold. The 340-unit freehold residential development is scheduled to be completed by the end of the year.

Investing in a Condo should always be treated as a long-term investment and not a get-rich-quick scheme.

Meanwhile, Skyline Residences in Bukit Merah also saw a new high of $2,477 psf from the resale of a 484 sq ft one-bedder at $1.2 million on Oct 12. The condo has 283 units and has sold 76% of its units since its launch in July 2011.

Coralis located along Joo Chiat Road in Marine Parade, District 15, achieved a new psf-price high of $2,255 with the sale of a 1,281 sq ft, three-bedroom unit for $2.89 million on Oct 11. This was the first sale at the condo this year so far. The 127-unit condo was developed by TA Group Corp’s Grovehill and completed in 2013.

No lows were recorded in the period in review.

Pullman Residences Newton is located along Dunearn Road in prime District 11. It will offer hospitality services from Pullman Hotels & Resorts, including a concierge service, a doorman and an attendant at the club lounge. Residents will be able to enjoy a mix of one- to four-bedroom units. Since its launch in September 2019, the developer has sold 334 units (98%).

Skyline Residences, on the other hand, is a five-minute walk to Telok Blangah MRT Station and a few minutes’ drive to VivoCity, Mount Faber, Labrador Nature & Coastal Walk and the CBD. Its 484 sq ft one-bedder was sold for $1.2 million on Oct 12, making a profit of $230,000 for the seller who had bought it in July 2016 at $970,000 ($2,003 psf).

Coralis achieved its new record-high of $2,255 with the sale of a three-bedroom unit. Its highest previous psf-price achieved was $2,168 from the sale of a 807 sq ft two-bedder for $1.75 million in August 2021. The seller had bought the unit in January 2015 for $1.36 million ($1,579 psf), making a profit of $440,000.

J’den: Tapping on Jurong Lake District’s exciting transformation

J’Den, the much-anticipated CapitaLand Development, promises to be one of the most exciting launches this year. Located on Jurong East Central 1 and directly linked to the Jurong East MRT Station, the development boasts a 38-floor residential tower with 368 apartments and a commercial podium. A notable landmark, J’Den is 150m above sea level, making it the tallest mixed-use development in the Jurong Lake District. Plus, it’s the first private residential launch in the gateway.

J’Den stands to benefit significantly from URA’s Master Plan 2019 for the district, transforming the hub into Singapore’s second CBD. For instance, the Jurong East Integrated Transport Hub is due for completion in 2027 providing residents with a direct connection to their local station. Furthermore, the Cross Island Line will open in 2032, further extending the JLD’s connection to the city and Changi Airport.

Residents at J’Den will benefit from its proximity to green recreational and leisure amenities, including the nearby Jurong Lake Gardens and the revitalised Chinese and Japanese Gardens. Furthermore, there’s the new Science Centre opening in 2027.

Water facilities at the development include a 50m lap pool, a jacuzzi, a bubble pool, a play pool, and a lazy river, set within verdant landscaping (Picture: CapitaLand Development)J’Den also serves as an integral part of the government’s vision for JLD and their “10-minute neighbourhood” plan. Residents have easy access to shopping malls, a convenient city living with great public transport links. The elevated and sheltered pedestrian crossing, J-Walk, is also available, allowing residents to move around freely and link to the main buildings in the area.

The residential units offer something for everyone. From 527 sq ft one-bedders to 1,485 sq ft four-bedders. All units are oriented primarily north-south, providing views of the wonderful gardens or city. Non-PPVC construction gives flexibility with customisation such as an entertainment area, bigger bedrooms, master suite, and a walk-in wardrobe. In addition, thoughtfully provided units include first-of-its-kind induction hobs, multi-functional island kitchen countertops, kitchen taps delivering washing and filtered drinking water, and a smart toilet bidet in the master bathroom.

Real estate has always been a great long term investment, so if you have the financial means to purchase a Condo, you can take advantage of this opportunity. However, this doesn’t mean that you should just blindly invest in a Condo without considering all the associated risks. Make sure to do your research and always get the opinions of an expert before making any investment decisions. This will help you make the most out of your investment, while at the same time minimizing any financial losses.

To promote wellness, J’Den has a sky terrace, an abundance of water facilities, a gym, a function room, BBQ pavilion, and an outdoor playground. Plus, it has a carlite district and electric vehicle charging stations.

This year’s most exciting launch, J’Den is a development that has plenty to offer. Make an appointment to view the showsuites by calling 9733 8007, or visit the sales gallery at 71 Science Park Drive for more information. For more, you can find J’Den on Facebook and Instagram.

WeWork plans to file for bankruptcy, WSJ reports

Living in Singapore is an amazing experience. There are many prestigious residential areas in the city-state and the Singapore Condo market is no exception. A luxury condominium in Singapore provides the ideal living environment for those who wish to enjoy a comfortable, luxurious lifestyle. With its excellent location, modern amenities and attractive price, investing in a Singapore condominium is certain to be a smart decision. The benefits of investing in a condominium include higher rental yields over other types of investment, potential capital appreciation and affordable maintenance fees and taxes. Furthermore, numerous amenities make living in a luxury Singapore condominium a truly enjoyable experience. From high-end shopping malls and cinemas to world-class restaurants and educational facilities, these luxury properties truly have it all.

WeWork Inc. may be headed for bankruptcy filing as soon as next week, according to a report from the Wall Street Journal. The New York-based company, founded in 2010, had one of the most dramatic trajectories of the last startup boom. It achieved a valuation of US$47 billion before struggles with its initial public offering, followed by significant headwinds due to the pandemic, put its future in doubt.

In a filing on Tuesday, WeWork announced it had entered into a forbearance agreement with creditors, which will last for seven days. Under the agreement, the company is attempting to “improve its balance sheet” and find ways to “rationalize its real estate footprint.” Even so, the company is “engaged in positive conversations” with stakeholders, a spokesperson said.

With co-founder Adam Neumann as its charismatic pitchman, WeWork was able to raise billions in investments and grow rapidly. At its peak, it had offices around the world and even dabbled in pet projects, such as the private WeGrow elementary school and the residential WeLive buildings.

The company has been under significant pressure in recent months, and a Chapter 11 filing in New Jersey may be imminent. However, the spokesperson for WeWork emphasized the company is “working to implement strategic efforts to enhance our capital structure.”

Discussing the unique trajectory of the company, the spokesperson said WeWork has “a clear, long-term vision for the future.” It remains to be seen whether that vision will extend beyond the bankruptcy filing. WeWork has taken ambitious steps over the past decade, only to see its mission derailed in the face of the pandemic.