Shared space industry has picked up in Malaysia over the last few years with more competitors emerging in the market
by ASILA JALIL / pic by ARIF KARTONO
SHARED office space business in the country is picking up at a rapid pace and more co-working outlets are expected to be established in years to come.
International Workplace Group (IWG) Malaysia, Indonesia and Brunei country head Vijayakumar Tangarasan said the shared space industry has picked up in Malaysia over the last few years with more competitors emerging in the market.
“There are about 50 to 60 competitors that have emerged in the last two years. There is a lot of interest in this industry and it is moving.
“We see the trend growing as a lot more businesses are expanding into the country such as information technology companies and call centres,” he said at the launch of the 34th co-working space by Regus Management Malaysia Sdn Bhd (Regus Malaysia) at Menara Axis, Petaling Jaya, Selangor, yesterday.
Regus Malaysia, which is operated by IWG Malaysia, is expected to establish more working spaces in the country next year as the trend picks up.
Vijayakumar said the company plans to have 10 more new spaces in the Klang Valley, Penang and Johor on top of 34 centres it currently has nationwide.
Regus Malaysia at Menara Axis is a 1,069 sq m space that offers 51 private offices and 218 work stations, including business lounge that is equipped with the latest technology and high-speed WiFi.
Vijayakumar said Menara Axis is the preferred choice for Regus because it is well-connected to public transportation such as the Asia Jaya light right transit station.
There is also ample parking space for customers and the area offers various food and beverages options.
He added that flexible working spaces also boost the productivity of a company as it could reduce stress over external factors such as travelling hours.
“You reduce travelling hours to your office, which could be in Kuala Lumpur and you might spend an hour just by driving there. That leads to stress and it might affect your productivity level at work.
“With a flexible shared space that we have everywhere, it gives companies and individuals options they may need which could improve productivity,” he said.
Small and medium enterprises (SMEs) and start-ups are among the main clients of Regus Malaysia.
Vijayakumar said new entrepreneurs prefer a flexible shared space, mainly due to the mobility it offers, besides the cost factor.
“A lot of businesses are mobile now. If SMEs and start-ups rent a shop lot and fix themselves there, they might be the only company in the building and they would have to do extra to promote their business.
“In our flexible office, they are free to move around and even meet new people who share the same space. It also gives them an opportunity to expand their network.
“Regus Menara Axis is located in an ideal place for start-ups and large corporations alike who are looking to rub shoulders with the country’s most brilliant minds,” he added.
The membership price for Regus Axis Malaysia starts at RM159 per month. Members of Regus co-working space also have access to more than 3,000 flexible workspace by Regus located in 110 cities worldwide.