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Philippines' top developer takes on WeWork

Ayala Land to rely on its local network to compete with US coworking space group

The battle of shared-office providers is heating up in the Philippines, as freelancers and startups look for affordable but cool offices. (Photo courtesy of WeWork)

MANILA -- Ayala Land, the Philippines' largest real estate developer, plans to open more coworking spaces across the country to counter the aggressive expansion plans of foreign competitors entering the market.

U.S.-based WeWork, a multibillion-dollar startup backed by Japan's SoftBank Group, officially launched its Philippine operations early this week as part of its regional expansion. WeWork said it is investing $500 million in Southeast Asia and South Korea.

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