BEEPLUS Increases the Value of Existing Real Estate While Harnessing the Growth Potential of the Companies It Serves
SHENZHEN, China, July 16, 2021 /PRNewswire/ -- With the continued evolution of the Internet and with more and more companies focused on innovative technologies, the requirements for an office are shifting from the need for basic functions to a communal workspace that is more humanized, creatively-designed and fully functional. To this end, the asset-light output model of commercial office space has quietly become popular. As one of the first "asset-light" brands in the industry, BEEPLUS, founded in 2015, has gone beyond the conventional expectation for office space in terms of design and operation with its own unique "new office ecology" concept: an "asset-light output model" that repurposes existing real estate, provides corporate services and integrates office and living.
"We are creating a new office scenario, and win-win cooperation model through 'asset-light output' - providing an innovative and high-quality office experience for urban white-collar workers while enhancing efficiency and soft power for the enterprise and increasing the value of the property for the owner," said Jia Fan, CEO of BEEPLUS. "We aim to become the Marriott of the flexible workspace industry."
In the past, when an office space needed to be leased, the company's executives had to choose a location, then decide on the design and supervise the outfitting of the office on their own, all of which took a lot of time and effort and often ended with an unsatisfactory result. In order to address the problematic issue for new and growing companies, BEEPLUS has packaged the entire process to provide companies with quality office solutions.
In addition to creating the office space, BEEPLUS will also provide a full range of operational support services to Plateno Group over the next five years.
In 2019, the Reith & BEEPLUS business center, an American-style community jointly built by BEEPLUS and the Reith Group, opened in Shenzhen. The project not only eschewed traditional approaches to the design of the workspace, but also became a model for what the workspace of the future would look like.
Despite the highly desirable geographical location in the popular Bao'an District, the immediate neighborhood was lacking in support facilities. In 2019, the Reith Group brought in BEEPLUS to re-architect the property, and signed on for BEEPLUS' one-stop services including design, construction, operation and investment support.
After renovation of the space and commencement of operations, the project quickly achieved 100% occupancy, with tenants coming from many emerging industries. The project became a typical example of "new office ecology" in enhancing the value of what was originally a depressed property. At the same time, it caused all the surrounding properties to appreciate in value with many medium- and long-term leases having been signed, creating a cluster of local business professionals. The end result has been the arrival and establishment of businesses to support the cluster, stimulating the economic vitality of the area where the property is located.
BEEPLUS' concept of packaging a business center brand with an adjacent accommodations facility and then scaling the concept by creating a chain of such facilities, coupled with the development of four core competencies to make it possible to execute on the concept: international design, renovation of depressed properties, support services including build-out and operation of high-end living spaces alongside the workspace, as well as operations and investment, have enabled the company to achieve an occupancy rate of over 95% in its projects in Shenzhen, Zhuhai and Guangzhou.
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