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PROVIDING INCLUSIVE AND COLLABORATIVE SPACES
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y providing agile and adaptable work space solutions, theDesk is transforming the way companies and their people work at a time of continuing challenges for businesses. It has created interactive work spaces that encourage the building of inclusive communities, wherever it operates in Hong Kong — whether it be in the business districts, commercial centres, or in the New Territories. TheDesk has cleverly combined technology and innovations to create a virtual work and collaboration platform. The company’s evolution so far, reflects the passion of Thomas Hui, CEO and Co-founder of theDesk, to solve business problems. Hui was a former commercial banker in relationship management. Later in his career, Hui founded a consulting firm, and in six years it became a 30 person firm with a presence in Hong Kong and China. In that role, he has enjoyed solving SME business challenges. But, having realised that, “consulting is not scalable’’, he went on to take up another challenge. “I did not enjoy retirement and found that I loved Hong Kong. I returned to Hong Kong and started theDesk. I asked myself what do I love. I love to be surrounded by passionate entrepreneurs,’’ he says. He founded theDesk in 2016 and he was enthusiastic in building a business community. The first site was in Sai Wan. It was about 8,000 square feet with a shop front and three floors. Witnessed the rise and fall of WeWork, Hui realised that execution is the key to success.
62 HONG KONG BUSINESS ANNUAL 2023
theDesk expansion In the first three years, theDesk expanded into Causeway Bay, Admiralty and Sheung Wan. During that time, the turmoil at WeWork was in the headlines, Hui remembers. As Hui sees it, the six years, so far, has been a period of two halves for theDesk. “The first half was about the boom in the industry and over-expansion. The second part is about consolidation.’’ And in the past three years, theDesk has been expanding and evolving its business model “according to our vision’’, Hui says. In Causeway Bay, theDesk works with the biggest landlord, Hysan Development. “Because of our inclusive community ethos, Hysan treats us like a strategic partner. We expanded into Sheung Wan and work with SUNLIGHT REIT. They treat us as a strategic partner.’’ Talking about ‘community’ is not a mere marketing buzzword, Hui says. “We can quantify and monetise community value. We define it in two key metrics. One is the stickiness of members. If the members move every six months, it is not a community,” Hui says that in the last two years, theDesk retention rate has consistently been above 85%. The second metric is the quality of the community,” Hui says. “If you emphasise connecting people, you want to connect quality people.’’ The resilience of the members also contributes to growth of theDesk. And some members become partners and theDesk promotes their services to others. TheDesk and the members share in each other’s success.