Hysan Development, a firm engaged in the real estate market, and IWG, a network of business centers, are set to form a joint venture, that will acquire and operate 32 existing locations across Greater Bay Area. Financial terms were not disclosed. “We are pleased to expand our business into GBA through this strategic joint venture with IWG. The workspace ecosystem is fast evolving to better meet end users’ needs and expectations, and flexible workspace will play an important part. The joint venture reflects our confidence in the economic growth of GBA. It also demonstrates how the management proactively formulate our business to create long-term value for our shareholders," Ricky Lui, Hysan Chief Operating Officer.