Colony inks co-working space deal to house Carsome’s expanded HQ

KUALA LUMPUR (Feb 10): Colony Space Asia Sdn Bhd has signed a six-year co-working space deal with integrated car e-commerce platform Carsome, involving 41,860 sqft of office space across four floors of KYM Tower in Mutiara Damansara.

In a statement, Colony labelled the deal as the biggest in Malaysia’s co-working space industry.

The office space to house Carsome’s expanded headquarters will be built and managed by Colony, said the coworking space provider, adding that Carsome has been one of its anchor tenants in Colony@Mutiara Damansara since 2019.

Carsome co-founder and chief executive officer Eric Cheng said the company decided to extend its relationship with Colony towards keeping up with its office needs and growing workforce.

The expansion of Carsome’s headquarters follows the company’s achievement of becoming Malaysia’s first technology unicorn — a start-up company valued at at least US$1 billion — on the back of a swap-share deal with internet investment firm Catcha Group in 2021.

Colony said that in addition to this deal, it has also provided Carsome with an option to further increase its workspace by 33% during the six-year period of the deal.

“We’re honoured to be a trusted partner in Carsome’s journey of growth. Working with them behind the scenes to build out their offices, I’ve been able to witness what makes them who they are,” said Colony executive director Timothy Tiah.

Get the latest news @ www.EdgeProp.my

Subscribe to our Telegram channel for the latest stories and updates 

Click here for more property stories