Ucommune International Ltd. [NASDAQ: UK] inked a cooperation agreement with Beijing Investment Group Co., LTD. Beijing Investment is a fully state-owned land developer associated with the Beijing government. The firm has inked an agreement to develop an asset-light project at the Beijing Asia Financial Center.
The firm will leverage its operational custody model to handle the Project’s operations, which is consistent with the asset-light business strategy of the firm. Through this model, the firm’s landlord partners depend on the firm to run their spaces while also gaining from the digital management systems, marketing channels, and corporate service resources of the firm.
Shares of Ucommune International Ltd. surged 4.55% as the firm has gained +0.05 during the trading session of Friday. The landlord partners of the firm can utilize their shared rental income to book offices, meeting rooms, and events in Ucommune’s other spaces around the world. Moreover, the firm has considered that the collaboration between the firm and Beijing Group is a win-win strategy for both firms. It will allow them to better use their unique competitive advantages while communicating the economic benefits.
Additionally, Beijing Investment Group currently runs the Asia Financial Center. Earlier, it was financed by the design and construction of the center. As part of the Project, the firm intends to promote an exclusively eco-friendly office environment. It is planning to do this by incorporating plants, natural lighting, eco-friendly building materials into its design and renovation of the space.