CityDev to invest in Distrii, China operator of co-working spaces

SINGAPORE (Jan 19): City Developments Limited (CDL) has signed an agreement to invest RMB 72 million ($14.8 million) for a 24% stake in Distrii, a leading operator of co-working spaces in China.

Founded last January, Distrii already has capacity for more than 2,200 members across nine locations in Shanghai, with 80% of this capacity being taken up already.

Distrii will be opening a new facility in Beijing in the first half of 2017 and plans to further expand in this city as well as in Guangzhou, Shenzhen and other global gateway cities.

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