Higher internet penetration in Southeast Asia along with the rapid development of e-commerce are behind the rise of coworking spaces.
The convenient work setup of coworking, with opportunities for networking and collaboration, all packaged into a vibrant and dynamic atmosphere are reshaping today’s modern workplace.
Beyond standard services, coworking spaces are now equipped with fitness centres, community bars, event spaces and even retail shopping.
Further north, Vietnamese policy makers are setting up coworking spaces for start-up companies to transform Vietnam into a start-up nation by 2020.
Turochas “T” Fuad, the managing director of WeWork in Southeast Asia, has said that Southeast Asia is set to be a major player in the coworking spaces market, but “We are still in the starting out phase.”
“Whenever WeWork ends up in a building, the valuation of that property goes up typically between 40 percent and 150 percent,” added Fuad. Across the region, landlords are joining in the fad and embracing coworking concepts to give life to their buildings and help incubate firms that will eventually lease office spaces at their properties.
As Southeast Asia’s continues to grow, workplace culture will evolve and coworking will soon be vital to the economies of the region.