WSPACE invests RM3.6 million to set up a new class of co-working space in Malaysia

Latest co-working space in Malaysia to promote innovation, productivity And collaborations

 

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CEO and founder of WSPACE presenting a mock lifetime membership to Datuk Chua Tee Yong at the official launch ceremony of WSPACE held at the Penthouse, The Centrepoint North Tower, Mid Valley City.

 

Kuala Lumpur, 6 December 2016 – WSPACE (M) Sdn Bhd (WSPACE), a home-grown co-working office space provider, today launched its flagship facility in a strategic business location in the city. With an initial investment totalling RM 3.6 million WSPACE at Level 27 (Penthouse) Centrepoint North Tower, Mid Valley City will provide flexible business solutions for entrepreneurs and start-ups who require a place to set business innovation in motion.

The WSPACE facility offers 12,600 sq ft of fully-furnished, premium workspaces with both dedicated private work and meeting areas as well as lifestyle social spaces for people to work, innovate and collaborate. It is also equipped with complimentary high-speed internet connectivity and access to on-demand front desk, financial, HR and legal support services for ease of doing business.

The launch of WSPACE was officiated by Deputy Minister of International Trade and Industry Malaysia, Datuk Chua Tee Yong.

Speaking at the launch ceremony, Datuk Chua Tee Yong said, “Co-working started out as an affordable alternative to traditional office environments. Today, this concept has evolved to be a critical component of the entrepreneurship ecosystem. It provides not only the infrastructure, but more importantly a collaborative environment that boosts entrepreneurship and innovation.  This in turn, I believe, will contribute to sustained economic growth for Malaysia.”

WSPACE founder and CEO, Mr Wang Li, explained, “Co-working spaces are becoming mainstream. It provides start-ups, small business teams and entrepreneurs a flexible and cost effective option to quickly set-up and operate their business. More importantly, it creates a platform to further boost business collaborations and exchange of new ideas.

At WSPACE, we are passionate about helping businesses, especially start-ups and entrepreneurs by offering them efficient and affordable business infrastructure and services for their business to thrive.”

WSPACE also offers a cost-effective opportunity to possess a prestigious physical business address which can be used to manage correspondence, run day-to-day business operations as well as hold occasional meetings and events, all at on-demand basis. Users will be able to access WSPACE services from as low as RM 159 per month with the starter package.

The opening of WSPACE sets a new benchmark for the co-working lifestyle in Malaysia. It will be the first co-working space in Asia to use a ground-breaking mobile management app (MAM) to automate daily business tasks. Simple tasks like office space check-in and check-out, meeting room booking, front desk services, meeting invitations, and payment, can be done in just a few clicks using the WSPACE mobile app. The mobile management app also provides added security features as members and guests require a dedicated QR code to access WSPACE and its services and facilities.

Setting itself apart from other traditional workplaces, WSPACE boosts a flexible space sharing arrangement from hot desk, dedicated work desk, office rooms to meeting and event spaces.  To create fun working places, WSPACE engaged the services of renowned local mural and visual artist, Mohd Zaki Bin Nordin, to paint colourful 3D murals on selected walls in the shared spaces such as W club lounge and W event lounge areas.

Wang is confident with the ever expanding regional trade, co-working spaces like WSPACE, will be well-received not only by local small businesses, startups and entrepreneurs, but even by large and multi-national organisations within the region are ready to embrace this concept.

“Operating co-working space is not the same as leasing out office space. An effective co-working facility creates a working environment that meets the needs of the modern workforce, especially creative young professionals. We have received good response with over 60 % of our dedicated office space in WSPACE Centrepoint North Tower being reserved since the soft launch in October 2016,” Wang said.

A recent report by CBRE, the world’s largest commercial real estate services and investment firm, revealed that most co-working spaces in Asia Pacific are located in gateway cities including Hong Kong, Singapore, Shanghai, Tokyo, Sydney and Melbourne. CBRE estimates there are a total of 300 co-working spaces in these locations.

 Speaking on the long-term plan for WSPACE, Wang said, “Tapping on the expertise and strength of our strategy partner Asgari Stephens and Intelligent Capital Sdn Bhd, we have plans to take this venture further and expand it to other countries like Singapore, Hong Kong, Indonesia, India, United Arab Emirates (UAE) and more over the next three years.”

To bring enjoyment to everyday work life, WSPACE offers great amenities including lifestyle lounge areas, shower rooms as well as free flow of premium roasted coffee and tea for all members and guests. It is also equipped with premium office furniture, built-in cabinets, custom-made adjustable tables and ergonomic chairs to promote productivity.

 For more information on WSPACE, visit www.wspace.com or call +603 2280 6999.

 

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