More co-working spaces by IWG as hybrid working demand grows


INTERNATIONAL Workplace Group plc (IWG) is seeing its network of co-working spaces expanding rapidly, adding more than two million new users due to the hybrid working model which has been embraced by many since the onset of the pandemic.

IWG Malaysia country head Vijayakumar Tangarasan said hybrid working has now become the new work paradigm of the 21st century, with employees being given the option to alternate between home, a nearby workspace or a central headquarters for work.

He said accelerated by the pandemic, organisations of all sizes are increasingly appreciating the benefits of the hybrid work model with vastly reduced commutes for employees and an improved worklife balance.

“According to a recent study by IWG, 77% of employees said a workplace closer to home is a must-have for their next job move.

“The desire to work closer to home has sparked an adoption of hub and spoke, where they mainly operate from the main office with further satellite offices or workspaces for employees to have a professional place of work within reach of home,” he said during a media briefing session yesterday.

IWG is opening two new centres namely, Spaces Exchange 106 and Regus Bukit Bintang City Centre (Regus BBCC) in Kuala Lumpur (KL) to meet the growing demand for hybrid work solutions.

He noted that the two new centres will be IWG’s 39th and 40th workspaces in Malaysia, further strengthening its network of more than 3,300 locations globally.

According to him, the additional workspaces expand IWG’s portfolio in providing end-to-end solutions for its members in the country and meeting the demand for professional and flexible workspace.

Additionally, Vijayakumar said IWG had recently signed its largest ever enterprise deals with the likes of international technology firm NTT Ltd for 300,000 employees and with Standard Chartered plc for 95,000 employees.

“The shift to hybrid enables companies to scale back their owned or leased property, reducing their overheads and providing them with the agility that traditional contracts can’t match.

“Hybrid working is better in many ways, especially for the people in the organisation, planet and the company’s bottom line. Not only does hybrid working improve work-life balance, but it can also bolster productivity,” he added.

Meanwhile, Vijayakumar said the interest for co-working spaces in Malaysia has been growing extensively and IWG is eyeing many more market options for the company to grow.

“IWG will be aggressively expanding in Malaysia and we are planning to have more new spaces in the Klang Valley, Penang and Johor, where there is growing demand,” he said.

Commenting further, Vijayakumar said Spaces Exchange 106 is located on the 23rd floor of one of the top 10 tallest office buildings in the world within the Tun Razak Exchange area.

He noted that the workspace offers 3,559 sq m of customised and flexible workplace solutions, further complemented by a 360-degree panoramic view of KL.

On the other hand, Vijayakumar said Regus BBCC is located near one of KL’s busiest crossroads and is a short walking distance from major public transport links.

He noted that the workspace will be officially launched in February 2022 and it is fitted with private offices and meeting rooms, alongside ample breakout areas to allow employees to seamlessly move between work and leisure.