KUALA LUMPUR, March 1 ― Malaysia’s property developer, UEM Sunrise Bhd has signed a joint venture agreement with Australia’s largest collaborative workspace provider WOTSO to create and operate its sustainable co-working spaces in Malaysia and Singapore.
UEM Sunrise’s managing director and chief executive officer Anwar Syahrin Abdul Ajib said the deal hopes to leverage on each other’s resources and expertise.
“Through WOTSO, we aim to become a driving force in the co-working industry by integrating modern physical workspaces with intelligent digital systems,” he said in a statement.
“WOTSO is flexible work environments made easy. We attract members from various scales and industries; ranging from freelancers, start-ups, small and medium-sized enterprises (SME) and large multinational companies,” BlackWall chief executive officer Stuart Brown added.
Brown said WOTSO is “beyond just any shared office space with a WiFi connection and a bunch of desks”.
“Together, we intend to create more jobs, build holistic communities and encourage the growth of local businesses and talents.
“By providing the tools and services to grow their businesses with us, WOTSO will cultivate the perfect workspace to encourage creativity and innovation so that Malaysia’s SME scene, as well as digital and knowledge economy, will continue to grow at a spectacular rate,” said Brown.
A 50:50 joint venture company will be formed to facilitate the implementation of co-working spaces in UEM Sunrise’s current and future projects, starting with Mercu Summer Suites, Kuala Lumpur in the second quarter this year.
The 13,000 sq ft hub will hold approximately 240 members. For BlackWall, it is the first time that the WOTSO brand is entering the Malaysian market.
The second foray for WOTSO in Malaysia will be in Imperia, Puteri Harbour with approximately 30,000 sq ft of spaces which will be launched in two phases.
Phase 1 is targeted to be launched in fourth quarter of 2018, whilst Phase 2 launch will be announced at a later part. Some of the other earmarked locations also includes Shah Alam, Singapore and Melbourne.