Co-working space industry in Malaysia picking up

KUALA LUMPUR (BERNAMA) – The co-working space industry in Malaysia has picked up over the last few years following growth in demand for flexible working areas, said International Workspace Group (IWG)

IWG Malaysia, Brunei and Indonesia country head Vijayakumar Tangarasan said the growth was seen not just in the central business district (CBD) areas, but also in the fringes of Kuala Lumpur and other smaller cities in the country.

“We see larger growth opportunities for the shared space industry in Malaysia, with more competitors coming into the market,” he said at a panel discussion on ‘Flexible Working is the Way Forward: How Being Flexible Can Help Your Business Grow’ organised by co-working space provider, Spaces, yesterday.

IWG, which owns the operating brands – Spaces and Regus, is expected to establish more working spaces in the country this year as there are a lot of enquiries from the small and medium enterprises as well as startups.

“In Malaysia, our growth year-on-year stands at 50 per cent, and among the Asian countries, we are leading from the growth perspective,” he said.

The Kuala Lumpur skyline. The co-working space industry in Malaysia has picked up over the last few years following growth in demand for flexible working areas