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United Overseas Bank (UOB) has teamed up with various co-working space operators so that its clients can access affordable office spaces in three ASEAN markets, reported the Business Times.
Under the agreement, the bank’s customers, including fledgling companies and small- and medium-sized enterprises (SMEs), will enjoy discounted rental rates of up to 20 percent at 80RR Fintech Hub SG (Singapore), WORQ (Malaysia), Common Ground (Malaysia) and EV Hive (Indonesia).
With this, UOB’s clients will have access to any of the 33 co-working spaces across the region, helping them tackle expensive set-up costs, which is among the major hurdles to businesses expanding in other countries.
This follows the first of such agreements signed between the bank and Vietnam-based Toong in 2017.
“Through our partnerships with co-working space providers, our customers will be able to benefit from the lower rental and operational costs, which will in turn help drive better business performance as they expand,” said Janet Young, UOB’s head of group channels and digitalisation.
“They will also be able to link up with the co-working community to gain an understanding of local market norms, to cross-fertilise ideas and to tap innovative technology as they grow their business.”
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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