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Malaysian developer UEM Sunrise on Thursday (1 March) entered into a 50:50 joint venture with Australian builder BlackWall in a bid to jointly establish and operate sustainable co-working spaces under the WOTSO brand in Malaysia and Singapore.
In the city-state, WOTSO’s existing co-working space is located at #04-01 The Quadrant along 19 Cecil Street. The partnership will also pave the way for the establishment of co-working spaces in UEM Sunrise’s existing and upcoming developments, beginning with Mercu Summer Suites in Kuala Lumpur by Q2 2018.
This represents the first foray into the Malaysian market by BlackWall’s WOTSO brand, which is touted as Australia’s biggest collaborative workspace provider.
Unlike typical offices, WOTSO allows occupants to easily reduce or increase their space usage depending on their needs, making them more affordable. For instance, the co-working space in Mercu Summer Suites will provide minimum start-up costs and turn-key solutions to members.
Another perk in signing up with WOTSO is that members can access all 12 of its WorkSpace hubs presently operating in Singapore and Australia for free.
“WOTSO is flexible work environments made easy. We attract members from various scales and industries, ranging from freelancers, start-ups, small and medium-sized enterprises (SMEs) and large multinational companies,” said Stuart Brown, Chief Executive of Australia-listed BlackWall.
According to UEM Sunrise, they aim to leverage the expertise of WOTSO and their own proficiency in property development to become a major player in the co-working industry.
UEM Sunrise is also the appointed project manager of Marina One and DUO. Both mega integrated projects were developed by M+S, which is 40 percent owned by Singapore’s Temasek Holdings, while Malaysia’s Khazanah Nasional holds the remaining 60 percent.
Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email romesh@propertyguru.com.sg
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