WeWork opens first co-working site in Vietnam

March 15, 2019 | 19:42
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WeWork, the platform for creators that provides the space, community, and services to help people make a life, not just a living, announced the official opening of its first Vietnamese location in E. Town Central in Ho Chi Minh City’s District 4.
wework opens first co working site in vietnam
Building on the strong Southeast Asia momentum, the E. Town Central space marks WeWork's first stronghold in Ho Chi Minh City

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 the location of a Grade A and Leadership in Energy & Environmental Design (LEED) Gold standard certified building, WeWork will welcome over 1,000 members to the community across four floors (22nd to 25th).

“With Vietnam’s rapid economic growth in Southeast Asia, we see immense business potential for WeWork to contribute to this vibrant economy. Our spaces in cities across the region have also proven to be a springboard that enables creator communities to flourish,” said Turochas “T” Fuad, managing director of WeWork Southeast Asia. “As companies look towards us in helping them to accelerate their growth in the local ecosystem, we remain deeply committed to strengthening the local ecosystem that sets the stage for fostering greater innovations here in Vietnam.”

Grounded in WeWork’s mission of supporting its members, WeWork is also growing in tandem with them and is here to connect people through intelligent design by fostering community and opportunities. WeWork welcomes members ranging from global enterprises to organisations with a presence in Vietnam such as Christina’s, a fully-integrated online-to-offline travel company; UrbanFox, an omnichannel logistics and channel management solutions brand as a 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 optimise and innovate as we scale in Vietnam. Confident that our team will thrive in this dynamic environment, being plugged into WeWork’s global network allows us to tap into cross-market opportunities that will help us accelerate faster towards our goals,” said Alex Danh, HR assistant manager of UrbanFox.

On the same note, Linh Thai, CEO of Vingroup Ventures said that, “As we are building our team, we recognise the important role that a community plays in building a firm foundation for growth. With WeWork, 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."

As a company of action, WeWork is committed to amplifying the impact by bringing people together. Just eight years ago, WeWork sprouted from one location in Soho, New York City and fast forward to today where the company is now the largest private occupier of space in London, Washington, D.C., and Manhattan.

There are currently 400,000 members in the WeWork community, across 425 locations, 100 cities, and 27 countries. In its mission of humanising the ecosystem, WeWork also incubated more than 1,000 startups in 33 cities with WeWork Labs, scaled Flatiron School to four new cities, and opened Access Labs to expand opportunity to coding education.

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

wework opens first co working site in vietnam
Leading the world in thinking about the interaction of space, people, and technology, WeWork is transforming the future of work

By Thanh Van

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