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WeWork says 15% growth in members in Malaysia from March to July 2020

KUALA LUMPUR (Aug 7): International co-working space operator WeWork has seen the member growth in Malaysia has increased 15% from March to July 2020.  

According to the media statement, WeWork Malaysia also tracked more than 30% growth in its enterprise members across sectors such as oil & gas, financial services, marketing and advertising, government and technology such as Petronas New Energy, Tenaga Nasional Berhad, StashAway, Panduit, Respond.io and Trapo.

“The enterprise segment has been a growth driver for WeWork. Across Southeast Asia, WeWork has seen more than 20% increase in enterprise members. With Malaysia in its Recovery Movement Control Order (RMCO) phase, more companies are evaluating their workspace commitment and leaning towards co-working spaces in favour of more flexible, cost efficient and scalable solutions as they look to recover and advance from the pandemic’s impact,” WeWork shared.

Citing on a recent report commissioned by WeWork and published by global market intelligence firm IDC, 20% of Malaysian organizations have adopted co-working (compared to the 17% average across Southeast Asia), while 53% have plans to do so in the next one to three years. 

Companies which have made this transition have moved their innovation, sales and marketing departments to name a few into co-working spaces, and have seen success from the collaborative environment.

“COVID-19 has highlighted greater emphasis on addressing new workspace realities. We are seeing companies recalibrating their traditional real estate portfolio based on their operational needs. This is where we are able to empower them with hybrid flexible workspace arrangements from a hub-and-spoke model to a phased workforce approach. 

As we enhance our spaces and services, we remain committed as a workspace partner to help tackle potential opportunities and challenges ahead,” WeWork’s Southeast Asia and Korea head of growth Ray Tan noted.

In Kuala Lumpur, its WeWork Mercu 2 location has seen rapid growth in enterprise members since its opening in end-2019. Meanwhile, the WeWork Equatorial Plaza location continues to be a key support for companies in essential sectors such as oil & gas, financial services and more with the ability to connect with WeWork’s community ecosystem.

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