Regional News

WeWork expands with new locations in Singapore

By Victoria Haviland 0 Comments NEWS, Regional News

Co-working aggregator WeWork has announced three new offices in Suntec City Tower 5, City House, and 8 Cross Street in Singapore. This is right on the coattails of its other successful launches, 71 Robinson Road, 22 Cross Street, and 60 Anson Road, putting WeWork at a total of 4,000 members across 9 locations.

WeWork expands capacity of global community in Singapore to empower even more enterprises

With its newest locations, WeWork now offers members nine dynamic and strategically-located workspaces in Singapore, adding even more capacity to its global community not only within the nation’s Central Business District (CBD) but also across the Southeast Asia region, with new locations opening in Bangkok, Ho Chi Minh City, Jakarta, Kuala Lumpur, and Manila by the end of the year.

At WeWork Suntec City Tower 5, City House, and 8 Cross Street, members have access to 700 desks across two floors, 600 desks across four floors and 1,200 desks across four floors respectively. The expansion will enable more enterprises and startups to join WeWork, in turn creating a bigger and more thriving community.

This move solidifies WeWork’s position as an enabler for enterprises by plugging them into a community of innovation, dynamism, and growth in Singapore, across Southeast Asia and globally so they can be as nimble and agile as startups. It also echoes and supports Ministry of Trade and Industry (MTI) Singapore’s mandate announced at the recent 11th Singapore Economic Policy Forum on how Singapore as a nation, must better support businesses in using Singapore as a launchpad into the rest of the world by investing in physical connectivity and strengthening connectivity in data, technology, and talent.

According to the World Economic Forum’s ‘Global Competitiveness Report 2018’, Singapore is ranked third globally and is the most competitive economy in the region based on indicators such as business sophistication, technological readiness, and innovation. This cements how the nation is a launchpad for other enterprises to flourish in the region. “Our growing presence in Singapore is testament to WeWork’s commitment to reshaping the future of work, empowering our members to grow and thrive, while creating tangible economic value in the markets that we operate in,” said Turochas “T” Fuad, Managing Director, WeWork Southeast Asia. “Enterprises with 1,000 or more employees make up 45% of WeWork’s membership locally and we have also witnessed 25% of our members upgrading their current spaces since our operations in December 2017. We are excited to support the growth of more businesses in Singapore and see this as an opportunity for WeWork to grow in tandem by supporting them in building a dynamic and creative community in Singapore as they expand their footprints across Southeast Asia.”

WeWork Enterprise - fastest growing membership segment for WeWork Singapore

Rapid scalability is an important consideration when choosing a workspace for agile, high-growth businesses. Together with WeWork’s continued expansion in Singapore, companies have also leveraged the flexibility of their membership and grew with WeWork to the latest spaces or expanded their current spaces to support their own growing operations. These members include elastic.co, a search company and the creators of the Elastic Stack (Elasticsearch, Kibana, Beats, and Logstash), job search engine, Indeed, and customer communication API platform Nexmo.

“When we first started our Singapore Engineering Centre at WeWork Beach Centre in December 2017, we were growing so quickly that we eventually upgraded into a WeWork Large Office by July 2018. By the end of the year, we will be moving into a bigger dedicated floor within Beach Centre that can hold 150,” said Jordan Dea-Mattson, Director, Indeed’s Singapore Engineering Centre. “No one could have predicted how fast we would grow. If we had gone the traditional route of renting office space, we would have had more difficulty to scale at will. Partnering with WeWork gives us the flexibility and peace of mind to be dynamic with our growth, without worrying about real estate needs and costs.”

To better empower enterprises, WeWork is also diversifying its products by leading the world in thinking about how space, people and technology interact. Traditionally many different groups, from brokers and landlords to general contractors, architects and interior designers to human resources, are responsible for a single company’s workplace experience—however with the company’s Powered by We offering, enterprises can now just rely on WeWork to help them find, build and operate their own space.

WeWork in Singapore - a launchpad for businesses into Southeast Asia and rest of the world

Global collaborative platforms like WeWork provide opportunities to attract firms which are not currently present in the country or region, but have an interest to expand their operations to Asia. As a platform for creators, WeWork’s collaborative spaces help connect its member communities that run the gamut from entrepreneurs to startups and large, multinational enterprises, very much aligned with MTI’s intent to enable businesses to use Singapore as a launchpad into Southeast Asia and the rest of the world.

There are over 200,000 enterprises in Singapore today, each at different stages of growth. From small businesses to large enterprises that contribute 65% of the country’s GDP[1], members can benefit from the collaboration resulting from WeWork’s engineered serendipity. Access to the global community of WeWork members also offers opportunities for expansion within and beyond Singapore.

“It was a deliberate decision to utilize WeWork’s workspaces, said Terence Yau, Assistant General Manager, TVB Anywhere. “We want access to a diverse community of creators and collaborators that would spur us to continuously optimize, innovate and up our game. WeWork also offers a global network of connections and resources that we can tap on for inroads into the region and beyond. This is the only way TVB Anywhere can blaze trails as content distributors in this fiercely competitive industry.”

WeWork welcomes members ranging from global enterprises to organizations with a presence in Singapore such as dataxu, elastic.co, Indeed.com, Nexmo, Médecins Sans Frontières, TVB Anywhere—as well as start-ups and Small and Medium-Sized Enterprises (SMEs)—such as ClassPass and Zilingo—into the WeWork family.

Integrating the best of design, technology and hospitality - WeWork plays a key role in positively impacting the future of work and cities

With WeWork leading the world in thinking about the interaction of space, people and technology together, the three new locations are testament to building the heart and soul of the local community.

WeWork Suntec Tower 5, the company’s next flagship location after 71 Robinson Road, occupies the Grade-A building on the 17th and 18th floors in Suntec City on the fringes of the CBD. As WeWork embarks on its continuous Southeast Asia journey, WeWork Suntec Tower 5 will act as the next-gen location that will symbolize WeWork’s path to success in Southeast Asia and core in empowering the local community on their growth journeys.

“We are excited to welcome WeWork to Suntec City. We are confident that WeWork will be a game changer in accelerating the future of work within Suntec City’s diverse business ecosystem, bringing along a fresh injection of vibrancy and dynamism to the Suntec community,” said Mr Chan Kong Leong, Chief Executive Officer, ARA Trust Management (Suntec) Limited, the manager of Suntec REIT.

Building on the strong growth and demand in Southeast Asia, WeWork’s next phase of growth entails solving the question of navigating the future of work and cities to progress toward a new economy — one that uplifts all people and all communities. According to a new WeWork London Economic Impact Report, WeWork members in London surveyed report a 34% increase in revenue growth after joining WeWork. Bringing new people, businesses, and sustainable economic activity to neighborhoods, while adding vibrancy to the tenant-pool for landlords, WeWork members spend nearly three times as much as the average Londoner on pubs, restaurants, and cafes, injecting more than £75 million per year into local neighborhood business.

Going beyond a space provider alone, a positive future of cities will require us to rethink our approaches to density, live-work-play spaces, and data-driven decision-making. With this investment creating a new center of vitality surrounding WeWork locations, this introduces new people to our community and by offering an exciting range of services and amenities to the neighborhood, where the WeWork economy also creates a 2.1x economic multiplier in London, meaning for every WeWork member, an additional 1.1 jobs are supported through indirect and induced spending.

As WeWork strengthens its presence in Southeast Asia, whether it’s work, living, education, wellness, or retail – we can reimagine, reshape, and re-humanize the architecture of our space, our buildings, and our cities to support and encourage human connection and creativity.

SOURCE WeWork
Edited by V. Haviland

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