WEWORK ANNOUNCES ENTRY TO PH

WeWork—a platform for creators that provides the space, community, and services to help people make a life, not just a living—recently announced its entry to the Philippines via its upcoming debut location in Uptown Bonifacio Tower Three, Bonifacio Global City.

With the Philippines as WeWork’s fourth market in Southeast Asia, WeWork Uptown Bonifacio Tower Three is set to open in December 2018, and will accommodate 800 members.

Expanding footprint

As a nexus of Philippine economic activity, BGC provides a strategic location for WeWork as it allows its members—local and multinational enterprises, technology startups, small to medium businesses, creators and freelancers—to tap into the locale’s dynamic and diverse business opportunities. WeWork is also gearing for its expansion in Makati in early 2019.

Fortifying its Southeast Asia footprint, WeWork has grown to 12 locations with more than 6,000 members across Southeast Asia. Aside from strong presence in Singapore and Indonesia, the company will also be advancing to other markets including Bangkok, Ho Chi Minh City and Kuala Lumpur by the end of 2018.

“As we place emphasis on our due diligence in understanding the local culture before entering any market, this gives us an additional edge by keeping our business attuned to the unique needs and opportunities of each market. Together with seeing demand from enterprises in BGC coming to WeWork as a solution in supporting their teams and growing their local ecosystem through our global network, we are expanding aggressively in order to bring the region closer to more creative and entrepreneurial communities across the globe,” said Turochas Fuad, managing director, WeWork Southeast Asia.

In the Philippines, the company sees strong potential con- tributions to the country’s thriving startup ecosystem and micro, small, and medium sized enterprises (MSMEs).

Promising hub

Data from the Department of Trade and Industry showed that there are almost 912,000 MSMEs operating in the country, accounting for 99.57 percent of all establishments or 70 percent of total employment.

Fuad noted: “The Philippines continues to be a promising hub for businesses of all sizes and the young population well-versed in technology can help spur innovation to benefit the national economic ecosystem and allow the Philippines to connect and collaborate with the rest of the world.”

Fuad said WeWork will evolve space into experience as the new Philippine location features signature WeWork elements such as common areas, phone booths, community bars, and breakout areas combined with Filipino-inspired art and design.