Shengtai International Taps Into RM128bil Flexible Workspace Industry

Award-winning property developer Sheng Tai International (STI) Sdn Bhd continues to catalyse Malaysia’s, and particularly Melaka’s economic growth by signing a landmark agreement with the world’s largest global workspace provider International Workplace Group plc (IWG) pertaining to its brands including Regus and Spaces.
The franchise agreement includes STI and IWG collaborating to open flexible workspaces in Malaysia. With the agreement, STI becomes IWG’s first partner since it opened up franchise opportunities in 2019 in the country.
STI has invested approximately RM8 million to kickstart 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) 2021. Meanwhile, the second centre 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 STI in the signing event and exchange of documents was Dato’ Leong Sir Ley, Founder and Chairman of STI with IWG being represented by Premita Dhaliwal, Head of Partnership Growth – Malaysia.

“We are delighted to work with IWG to expand Malaysia’s flexible workspace industry,” shares Dato’ Leong Sir Ley, Founder and Chairman of STI.
“We believe this is the right time to invest in the flexible workspace industry in Malaysia, and especially in Melaka, in line with the optimistic outlook post Covid-19 for the state and country. The pandemic has provided Melaka as well as the flexible workspace industry with an additional edge. More and more people and global brands are looking at strategic locations that are situated beyond the city centre. The pandemic has also accelerated the growth of flexible workspace trends around the world. “
“With our unique establishments in Malaysia coupled with IWG’s modern and world-class amenities, we are poised to appeal to discerning entrepreneurs, Small and Medium-Sized Enterprises SMEs and multinational corporations; re-energising the economy in and around Melaka,” says Dato’ Leong. The group plans to open more flexible workspaces throughout Malaysia in the next five years.
“When we decided to open up franchising opportunities, we knew we needed strong partners but more importantly, people who share our vision and values,” adds Gareth Haver, Regional Chief Executive Officer of IWG,
“So 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. Their ability to draw global brands here during the pandemic is a testament to this,” adds Premita Dhaliwal of IWG Malaysia.
Melaka Trade Square (Metrasquare) is a 6-acre commercial development comprising a residential component called the Metrasquare Serviced Suites, a three-star premium hotel called Hotel Metrasquare, a five-star hotel called Ames Hotel, retail lots, meeting and conference facilities, F&B amenities plus an upcoming Melaka historical gallery and art social space.

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