19:06 (GMT +7) - Tuesday 16/07/2019

Business

WeWork opens first location in HCMC

Released at: 15:15, 22/03/2019

WeWork opens first location in HCMC

Photo: Hung Cao (VET)

E-Town Central HCMC the first hub in Vietnam of global co-working space platform.

by Khanh Chi

WeWork, a platform for creators that provides the space, community, and services to help people make a life, not just a living, recently announced the official opening of its first Vietnam’s location in E-Town Central in Ho Chi Minh City’s District 4.

On the heels of opening its first location in the Philippines in February in Manila, WeWork E-Town Central adds to the company’s rapidly-growing presence in Southeast Asia. With a location in a Grade A and Leadership in Energy & Environmental Design (LEED) Gold standard certified building, it will welcome over 1,000 members to the community across four floors.

Staying grounded to its core of being a global company operating with a local playbook through close collaborations with key partners and experts in creating the uniquely WeWork Vietnam experience, WeWork has grown to 18 locations with more than 13,000 members across Southeast Asia since December 2017.

“With Vietnam’s rapid economic growth in the region, we see immense business potential for WeWork to contribute back to its vibrant economy,” said Mr. Turochas Fuad, Managing Director of WeWork Southeast Asia. “Our spaces in cities across the region have greatly proven to be a springboard that enables creator communities to flourish. As companies look to us to help them accelerate their growth in the local ecosystem, we remain deeply committed to strengthening the local ecosystem that sets the stage for fostering greater innovation here in Vietnam.”

WeWork E-Town Central HCMC. (Photo: Hung Cao)

WeWork welcomes members ranging from global enterprises to organizations with a presence in Vietnam such as Christina’s, a fully-integrated online-to-offline travel company; UrbanFox, an omni-channel logistics and channel management solutions brand and subsidiary of Singapore’s conglomerate Keppel Corporation; and Vingroup Ventures, a Vingroup company.

“As we are gearing up to seize opportunities offered by e-commerce in Southeast Asia, we were looking for an agile space that allows us to continuously optimize and innovate as we scale in Vietnam,” said Mr. Alex Danh, HR Assistant Manager at UrbanFox. “Confident that our team will thrive in this dynamic environment, being plugged into WeWork’s global network allows us to tap onto cross-market opportunities that will help us accelerate faster towards our goals.”

“As we are building our team, we recognize the important role that a community plays in building a firm foundation for growth,” said Ms. Linh Thai, CEO of Vingroup Ventures. “We really enjoy the open collaboration spaces. Partnering with WeWork gives us the flexibility to concentrate on scaling our dynamic growth, without worrying about real estate needs and costs.”

Research by real estate consultants HR&A shows that WeWork can help generate as much as 29 per cent in rent premiums for building owners, where in select buildings that sold after WeWork moved in, there was a 50-120 per cent increase in sales price. Leveraging on its global footprint and member base, WeWork looks forward to reimagining, reshaping, and re-humanizing the architecture of its space, buildings, and the cities it operates in to support and encourage human connection and creativity. 

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