Chinese coworking behemoth URWork has just wrapped up an RMB 200 million ($30 million) investment today from KCC, a state-owned real estate developer based in Kunming, Yunnan Province.

As part of the announcement, URWork says the two companies plan to invest a combined RMB 1 billion for the construction of a 30k square meter city complex and innovation center in Kunming’s business hub. Upon completion, the new project will be the largest single space that’s operated by URWork so far.

While URWork is running a race against both domestic and global competitors in pushing its co-working operations to the global market, the current tie-up shows that Chinese co-working unicorn is also expanding across verticals: business complexes that not only involve shared offices but also more diversified business models from commercial centers, conventions, hotels and more.

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Emma Lee

Emma Lee is Shanghai-based tech writer, covering startups and tech happenings in China and Asia in general. We are looking for stories related to tech and China. Reach her at lixin@technode.com.