Regus: Office owners now more open for partnership

PETALING JAYA: Technology is indeed changing the way people work.

Serviced office and co-working space provider Regus country head of Malaysia Vijayakumar Tangarasan said the digital economy has given rise to changing trends and technology startups.

Vijayakumar said: “Today’s workforce is looking for a more flexible workplace solution.”

Riding the current tide of the dig- ital and sharing economy, Vijayakumar says the company is planning to introduce another co-working brand – Spaces – into the local market next year.

Regus has a total of 30 workplace centres in Malaysia available for short or long-term lease currently.

“These ready-to-use co-working spaces provide flexibility for customers to rent a desk or private office room, rather than an entire office. This is a cost-effective solution for new start-up companies or SMEs.

“Also, with multi-companies under one roof, social networking opportunities are available even without leaving the office. This makes it especially attractive, compared to the conventional office space,” added Vijayakumar.

With an occupancy rate of Klang Valley office space at about 80% currently, and some 8 million sq ft expected to be completed this year, office space owners are more open to enter partnerships today, especially owners of new blocks.

“They wish to introduce creative concepts to drive tenants in,” said Vijayakumar.

Regus generally targets at least 40% of occupancy in the first two months when establishing a new centre, and the co-working concept is doing well in the Malaysian market.

Recently, Regus signed up 18,000 sq ft for Bukit Bintang City Centre (BBCC) strata office block.

“Regus’ business model is to bring in tenants from a variety of sectors, have them under one roof which is in line with BBCC’s identity as a mixed development. We believe this is a win-win situation for both parties,” said Vijayakumar.