I love co-working offices. Earlier article here: Own office and co-working space? Get the benefits As for whether there will be too many of them because of supply growing way faster than demand, this is still up for some discussion yeah. Some say, this may not be a lasting trend while some say this will be the trend of the future. Why own and pay when renting space gives more flexibility when it comes to expansion, for example. Besides, moving into one will be easy and all the facilities are immediately available, including coffee machines and even swimming pool! (Yes, there’s one such co-working office here in Kuala Lumpur)
Article in edge prop.my here. Regus has launched has launched a new franchise scheme in Malaysia. Regus is part of IWG. Its Head of Partnership Growth at IWG Matthew James Kenley shared that the serviced office market is one of the most exciting growth markets in the world, and the next frontier for franchise operators. He said, “We are excited to bring the many benefits of flexible working to more people and businesses across Malaysia.”
Kenley added, “By 2020, 50% of all workers will work remotely most of the time. In 2022, the global mobile workforce will be 1.87 billion people. This is why global real estate giant JLL estimates that up to 30% of corporate real estate could be flexible workspace by 2030.”
Kenley also shared that within the last 6 years, Malaysia has grown consistently with just six centres in two cities when we entered the market, to the 34 centres in five cities today. He said, “As demand for co-working space continues to grow exponentially, IWG Malaysia is planning to open at least 40 centres by year-end. Through this new franchise programme, we will be aggressively expanding our network and service offering in all the major and suburban cities.” To learn more about how to offer space we have to be a franchisee, do read the article here.
I am interested to know how this will work out. Perhaps IWG may send me more updates about it in the future. I will be glad to keep sharing with everyone because co-working space is also a sign that technology companies are really growing very fast too. Let’s understand that many traditional brick and mortar companies will not find co-working space as what they want. However, most businesses dealing with online, technology or even start-ups will find co-working space to be an ideal choice. Happy following.