Mandel Ngan | AFP | Getty Images
A man enter the doors of the ‘WeWork’ co-operative co-working space in Washington, DC.
The New York-based company, known for spacious buildings consisting of private offices and desks that it rents to freelancers, first entered the regional market last December with a Singapore branch. Since then, it’s opened seven more locations in the city-state in addition to three sites in the Indonesian capital of Jakarta.
More buildings are in the pipeline for Singapore, with Bangkok up next, WeWork Managing Director of Southeast Asia Turochas “T” Fuad told CNBC’s Dan Murphy on Wednesday. Buildings in Manila and Kuala Lumpur could follow, he said.
Speaking with CNBC at technology conference InnovFest Unbound, Fuad attributed the firm’s ambitious plans to strong Southeast Asian demand.
“The whole concept of urbanization, the whole sharing economy concept is definitely migrating towards the commercial sector,” he said, noting that office occupants are a blend of international companies and local start-ups.
More Chinese and Indian companies are also choosing Southeast Asian locations, he noted.