Local developer partners with IWG to open flexible workspace in Malaysia
Award-winning property developer Sheng Tai International Sdn Bhd (Sheng Tai International), continues to catalyse Melaka and Malaysia’s economic growth by signing a landmark agreement with the world’s largest global workspace provider in International Workplace Group (IWG) whose brands include Regus and Spaces.
The franchise agreement will witness Sheng Tai International and IWG collaborating to open flexible workspaces in Malaysia. With the agreement, Sheng Tai International becomes IWG’s first partner since it opened up franchise opportunities in 2019 in the country.
Sheng Tai International has invested approximately RM8 million to begin this partnership with three centres in the company’s commercial properties in Melaka. The first centre which will be developed under Regus, will open in Metrasquare, Melaka by the end of the second quarter (Q2) of 2021. Meanwhile, the second centre parked under Spaces, will open at The Sail in 2025.
Tun Seri Setia Dr Hj Mohd Ali Mohd Rustam, Yang di-Pertua Negeri Melaka was present to witness the signing ceremony. Representing Sheng Tai International in the signing event and exchange of documents was Dato’ Leong Sir Ley, Founder and Chairman of Sheng Tai International. Mwanhile, IWG was
represented by Premita Dhaliwal, Head of Partnership Growth – Malaysia.
“We are delighted to work with IWG to expand Malaysia’s flexible workspace industry. We believe this is the right time to invest in the flexible workspace industry in Malaysia, and especially in Melaka. This is in line with the optimistic outlook pos Covid-19 for the state and country. The pandemic has provided Melaka as well as the flexible workspace industry with an additional edge,” she says.
“More and more people and global brands are looking at strategic locations that are situated beyond the city centre. In addition, the pandemic has accelerated the growth of flexible workspace trends around the world. Our unique establishments in Malaysia coupled with IWG’s modern and world-class amenities will appeal to discerning entrepreneurs, SMEs and multinational corporations in re-energising the economy in and around Melaka. We look forward to opening more flexible workspaces throughout Malaysia in the next five years,” she adds.
“When we decided to open up franchising opportunities, we knew we needed strong partners but more importantly, people who share our vision and values,” reiterates Gareth Haver, Regional Chief Executive Officer of IWG
“Therefore, we are thrilled to open a new chapter with Sheng Tai International. They have ambition and a solid track record that
goes beyond the property. I believe their ability to draw global brands here during the pandemic is testament to this,” adds Premita Dhaliwal of IWG Malaysia.
Melaka Trade Square (Metrasquare) owned by Sheng Tai International comprises a six-acre commercial development that comes complete with a residential component called the Metrasquare Serviced Suites complemented by a three-star premium hotel called Hotel Metrasquare, a five-star hotel called Ames Hotel as well as retail lots, meeting and conference facilities, Food & Beverage amenities as well as an upcoming Melaka historical gallery and art social space.
Located just five minutes drive away from the Ayer Keroh toll off the North-South Expressway, Metrasquare is also situate adjacent to the Melaka International Trade Centre (MITC), government offices, hypermarkets and various tourist attractions such as Melaka Zoo and Night Safari; Melaka Bird Park; Wonderland Theme Park; Melaka Planetarium, World’s Bees Museum and the Melaka International Trade Centre.
Flexible workspaces are anticipated to grow exponentially in Malaysia as companies of all sizes adopt progressive hybrid work patterns. Businesses have come to the realisation that a hybrid model not only results in happier and more engaged employees, but also contibutes to asignificant savings for the bottom line.
Earlier this month, IWG announced a record start to 2021, having engaged at least over half a million users of its network so far this year. In addition to this, IWG has planned its largest ever deal with NTT, Nippon Telegraph and Telephone Corporation. The deal will provide NTT’s 300,000 employees across its portfolio of companies and global network with access to IWG’s more than 3,500 workspaces globally.
For more information about Regus in Melaka, kindly contact Sheng Tai International at +6011 3737 3399.
Sheng Tai International And Kenteam Collaborate
Sheng Tai International Sdn Bhd (Sheng Tai International), an award-winning property company, and KenTeam International Sdn Bhd (KenTeam), a leading latex and nitrile gloves manufacturer in Malaysia, signed a landmark Memorandum of Agreement (MOA) that is aimed at setting-up The Sail Melaka as an International Financial Centre and possibly a duty-free hub.
The first part of the MOA includes Sheng Tai International and KenTeam collaborating to open a Premium Outlet at The Sail Melaka as well as apply for a Duty-Free status for The Sail Melaka Phase 2 the cultural square as well as Phase 3 the million square feet shopping mall.
While the second part of the MOA consists of KenTeam investing into three (3) towers of The Sail Melaka, with each tower comprising 61 storeys. Measuring a total of 1.2 million square feet, the three towers will be transformed into an International Financial Centre, a Wellness Hub and an Information Technology hub, respectively.
Datuk Seri Utama Sulaiman Md Ali, Melaka Chief Minister, was present as the guest-of-honour to witness the signing ceremony as well as to support the future International Financial Centre and Duty-Free Hub.