WeWork will be expanding to upcoming locations in Mid Valley next year as part of their continued expansion in the ASEAN region.
The co-working platform company out of the United States announced this during the formal launching of their 100,000 sq ft flagship space in Equatorial Plaza, Kuala Lumpur.
“With Kuala Lumpur increasingly becoming a hotbed for innovation and modern development, we see huge potential coupled by Malaysia’s steady economic growth and unique position as a high-value market for foreign investment in Southeast Asia,” said WeWork Southeast Asia CEO Turochas “T” Fuad.
(From left to right) Melisa Wang, Co-Founder and Chief Operating Officer, PostCo; Dennis Tan, Director & Head, Investor Relations – Americas & Europe, InvestKL; Turochas “T” Fuad, Managing Director, WeWork Southeast Asia; Datuk Zainal Amanshah, CEO, InvestKL; Hans-Peter Ressel, Founder and CEO, Momentum Commerce and Eyad Zahra, Head of Community and Member Experience, WeWork Southeast Asia celebrating the official opening of WeWork Equatorial Plaza.
According to the event’s press release, the opening of the Equatorial Plaza – its largest in Southeast Asia – the space signals WeWork’s commitment to expanding its footprint in Southeast Asia, with the company growing to 19 locations with more than 13,000 desks across the region in just one year.
“WeWork is fuelling the innovation economy—high-growth sectors such as technology, creative and professional services, and advanced manufacturing—and is committed to helping cities like Kuala Lumpur create communities of innovation, entrepreneurship, and creativity,” it said.
The company also shared its first annual Global Impact Report, measuring the economic effect of the WeWork community in 75 cities around the world.
According to their study, WeWork is a powerful multiplier in cities with a global average economic multiplier is 1.7 which is responsible for millions more in spending and taxes—a boon to local and state governments.
The company said that the WeWork economy is big and getting bigger, supporting $122.3
billion of GDP worldwide—roughly the size of the economies of cities like Vancouver, Dublin, or Austin.
“Strengthening its presence in Malaysia, WeWork remains committed to contributing back to the local community and economy while building the first global physical platform designed to bring people together to pursue their purpose,” it added.