WeWork to make debut in M’sia next year

We have also formed partnerships with local companies across various industries, its MD says

By LYDIA NATHAN / Pic By BLOOMBERG

NEW YORK-based office-sharing company WeWork will make its Malaysian debut in the first quarter of 2019.

WeWork MD (South-East Asia) Turochas Fuad said a five-storey workspace in Equatorial Plaza, Kuala Lumpur, has been chosen as the company’s first location in the country due to its convenient access to public transport, eateries, business services and entertainment areas.

“With Malaysia experiencing a sustained and strong outlook for its future growth, the country has made it an exciting market for us to enter,” he told reporters in Kuala Lumpur yesterday.

He added that the company will look into expansion to other locations, as well as second-tier cities next year.

“There is no timeline set just yet, but we will definitely look at expanding. We have also formed partnerships with local companies across various industries like food and beverage, furniture makers and general contractors,” he said.

The company’s shared workspace in Equatorial Plaza, which can accommodate 1,900 members, will be one of the largest in the region. It is aimed at redefining the conventional norms of an office environment and accelerating the future of work in Malaysia.

Fuad said the office space varies from country to country and members can book on the network mobile application, which was launched in mid-2014.

“The app allows members to interact with each other across various countries.

“It gives them an insight into the global network available, where they can chat and ask questions. So, there’s a lot of sharing going on,” he added.

Currently, WeWork operates across 83 cities in 24 countries with more than 320,000 members around the world ranging from start-ups to household names.

In Malaysia, the company will offer three products — namely the hot desk at RM50 per month, dedicated desk (RM1,150 per month) and private offices (from RM1,200 per month).

The charges include phone booths, printing facilities, Internet access and common lounge areas.

All spaces can be leased short term and long term, but are flexible with changes according to the client companies’ upgrades or downgrades.