Coworking space giant WeWork has huge appetite for Southeast Asia
Property consultancy firm JLL recently made the interesting finding that 55% of leases signed in Jakarta in the first quarter of the year were made by technology and coworking space companies. Coworking space is certainly a growing business in Jakarta, and according to JLL’s head of research James Taylor many of these coworking spaces are moving from grade B to grade A buildings, thus explaining why coworking spaces in new buildings and premium malls in Jakarta’s CBD are most likely to be fully occupied. WeWork, the US-based company that pioneered coworking spaces, has been tapping the opportunities in this growing market in Indonesia. Two years ago the company invested $500 million in the Southeast Asian and South Korean markets. In Indonesia WeWork acquired local coworking space Spacemob in August 2017. WeWork currently has 19 spaces in cities in Southeast Asia, including five in Jakarta, out of their 647 locations worldwide as of the end of April.
Established by Adam Neumann and Miguel McKelvey in 2010, WeWork was reported to be worth $47 billion in February, even bigger than similar companies like IWG (previously Regus) that basically rent spaces for companies. Unlike many coworking space companies that focus only on technology companies and startups, WeWork has signed up big established companies like Walmart and Amazon. Now around 30% to 40% of the company’s clients are in the Fortune 500. WeWork is aware that young people think differently in comparison with previous generations when they choose where to work. And a working environment that provides human connection and a supportive ambience are among the key factors.
Bu hikaye Forbes Indonesia dergisinin May 2019 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye Forbes Indonesia dergisinin May 2019 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
BACK ON TRACK
Collective wealth gets a 21% boost to a record $162 billion amid an economic uptick.
Championing Locals
The wave of social commerce is enabling inclusive digital economies beyond urban areas.
Boys in the Bubble
Startups are supposed to specialize, but OPENSEA’s founders thrived by building a wide-open market for creating and trading all manner of NFTs, whether art, music or gaming. Now that they’re centimillionaires and poised to become billionaires, they have other worries: competitors, fraudsters and the next crypto crash.
Enduring Relations
The implementation of IA-CEPA amid the pandemic signifies the Indonesia-Australia’s commitment to recover and counter future challenges together.
Sweet Success
Steven Erwin envisions Unifam to become a major global player in the confectionery and F&B industry.
Marathon Man
Across America, scores of municipal pension funds remain scandalously underfunded. But not the pension fund of Tampa’s police and firemen, thanks in large part to JAY BOWEN, whose no-frills approach to stock picking has protected and served them for more than 45 years.
Gold Rallies on Inflation Fears
During September the price of gold rallied to $1,868 per ounce following the release of figures on US inflation by the Bureau of Labor Statistics which indicated that, as of September, CPI inflation had rocketed to 6.2%, above the 5.8% which economists had been predicting.
Set Off to A New Start
Bank Aladin has two main ingredients for success: establish trust and offer better customer experiences.
The Daily Intake
YOUVIT plans to invest further into marketing and grow into one of the leading vitamin brands in Indonesia.
THE CROESUS OF CRYPTO
FTX COFOUNDER SAM BANKMAN-FRIED BUILT A $22.5 BILLION FORTUNE BEFORE HIS 30TH BIRTHDAY BY PROFITING OFF THE CRYPTOCURRENCY FRENZY—BUT HE’S NOT A TRUE BELIEVER. HE JUST WANTS HIS WEALTH TO SURVIVE LONG ENOUGH TO GIVE IT ALL AWAY.