NEWS
WeWork strengthens its enterprise focus and appoints new General Manager in Southeast Asia
By John Tyler
Kuala Lumpur , Malaysia , May 10 , 2021 – WeWork , the leading flexible space provider , has announced the promotion of Balder Tol to General Manager , Australia and Southeast Asia ( SEA ). This announcement also aligns with WeWork ’ s enterprise members growth in SEA .
Prior to COVID-19 , SEA was expected to grow at a yearly average of 5.2 % from 2018 to 2022 , with projections of the Association of Southeast Asia Nations ( ASEAN ) becoming the fourth largest single market in the world by 2030 . The region ’ s economy is expected to regain its confidence and growth this year . According to global market research firm , GlobalData , the six largest SEA nations ( Indonesia , Malaysia , the Philippines , Singapore , Thailand and Vietnam ) are expected to track positive GDP growth rates ranging from 4 % - 9 % in 2021 .
Since WeWork ’ s establishment in SEA four years ago , it has been a strategic partner to foreign and local enterprises ; in expanding and scaling their presence across the region . To date , WeWork ’ s members in SEA are made up of more than 50 % large enterprises ; ranging from Fortune 500 companies to regional and local enterprises and conglomerates .
Now more than ever , flexibility has become a strategic differentiator for business leaders as they navigate the business challenges and opportunities ahead ; against the region ’ s economic recovery .
As parts of SEA return to work , employees and companies are looking ahead at what will come next . In a recent study conducted by WeWork , employees find office space so valuable that nearly two-thirds ( 64 %) said they would be willing to pay for it out of their own pockets . There is thus a need for business leaders in SEA to reimagine workspace strategy to integrate , energise and motivate employees . This is where a hybrid model comes in . In a hybrid workplace model , employees have the ability to work in different spaces , including corporate offices , coworking spaces , public spaces and from home .
Over the last year , WeWork took this opportunity to introduce hybrid concepts such as hub-and-spoke ( satellite offices ), dedensification ( spaces with reduced office density to be scaled accordingly ) and Collaboration Hub ( a flexible , customizable workplace design enhancing teamwork and creativity ). Through WeWork All Access , members can access any WeWork location , wherever is most convenient for them , and the company will launch On Demand ( pay-asyou-go workspace ) in SEA later this year .
Samit Chopra , Managing Director , Internation al ( Strategy and Operations ) based in Singapore
43
Property360Digest e-magazine Issue # 9 - 2021