Major office space provider IWG has started adopting the franchisor model, pioneered by fast-food company McDonald’s, in its effort to edge further away from WeWork.
WeWork launching its largest regional space in Kuala Lumpur
Coworking giant WeWork has officially made its mark in Malaysia’s market with its new space in Kuala Lumpur, their largest in the region. Located in the Equatorial Plaza, the location has a 1,900 person capacity across five floors.
The space is located near the city’s commercial district, according to WeWork Southeast Asia managing director Turochas “T” Fuad.
Daman Land Sdn Bhd signed a revenue sharing agreement with WeWork and will help the company seek out other locations in Malaysia as they continue to expand.
WeWork has 16 other locations in the region throughout Singapore, Ho Chi Minh City, Manila, Jakarta and Bangkok.
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“We plan to expand beyond the central area of Kuala Lumpur and explore places such as Plaza Damansara, Bangsar and so on. Ultimately, in the long term, we will also be looking at expanding to other cities across Malaysia as well,” Turochas said.
WeWork offers members hot desks, dedicated desks, private offices and full access to the internet and communal areas.
Turochas says he hopes coworking spaces will bridge the gap between the oversupply of offices and commercial spaces in the area.
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