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πŸ‡±πŸ‡Ί Why Luxembourg’s coworking sector is being held back
Patricia Casal Marques shares that even though "coworking spaces play a vital role in the Expand πŸ‘‡ development of the economy", local industry leaders still face struggles around flexibility and support.
In the piece the Luxembourg Workspace Association shares that after some preliminary research, there are just 56 spaces across the country. What’s holding back growth, according to Gosia Kramer, founder of The Office coworking spaces is 3-fold: small market size, conservative approach of real estate sector and the huge bureaucracy required to set up a business.
It’s also noted that government’s unwillingness to cooperate with the sector is also an area of frustration. Claudine Bettendroffer, Country Leader of the Silversquare coworking space notes that under the current law, managers of coworking spaces need an ‘establishment license’.
πŸ‡§πŸ‡ͺ Loss-making Belgian operator gets €18M further backing
Real estate group Ghelamco is investing €19M in additional capital into their coworking arm, Expand πŸ‘‡ MeetDistrict. The coworking brand has 4 locations, made a €6M loss in 2022, and has 2000 daily users. The firm who focus on the concept of "Personality Based Working" and letting users book everything within their app (from desks, to parking, to coffee), note their losses were required to invest heavily in digitalization. Interestingly, Silversquare (the coworking arm of real estate company Befimmo) operates 10 locations, doubled revenue to €15M in 2022, but still recorded a net loss of €7.3M.

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