WORQ Smashes Records with 80% Occupancy With Latest Outlet
The new location is 34,000 sq ft and houses a workspace for a multinational corporation that has been built by WORQ’s Enterprise Division, which specialises in developing bespoke offices for short-term tenures.
WORQ, a Malaysian coworking space provider, has achieved a record 80% occupancy rate for its fifth and largest outlet in KL Sentral, even before its official launch. The site was 70% pre-sold prior to renovation and its high occupancy rate means that it opens with profitable numbers on its first day.
The new location is 34,000 sq ft and houses a workspace for a multinational corporation that has been built by WORQ’s Enterprise Division, which specialises in developing bespoke offices for short-term tenures.
"Businesses need to be more agile post-Covid, and hybrid working through the use of coworking spaces is very flexible and painless. Moving forward, this is the mainstream way of using offices and WORQ’s scalable model is set to expand to all cities and help people move towards a new workstyle'', said Stephanie Ping, CEO and Co-founder of WORQ.
WORQ Track Record
WORQ has a consistent track record of maintaining occupancy rates above 90% across all locations since its inception.
It has also been profitable from the start and has maintained this position by taking just two months on average to fill each location, compared to industry benchmarks that take up to 12 months.
With its ability to anticipate market needs and its scalable business model, the company is rolling out an aggressive expansion plan to triple its presence in the next two years.
WORQ has maintained its financial stability by raising its third round of investments at the start of the pandemic and securing bank loan offers from six major banks in Malaysia.
Its latest equity fundraising round in 2020 included seven repeat investors, and it is set to become the market leader in the coworking space industry in Malaysia. The company’s mid-term plans are to build up to 3 million square feet of coworking spaces in Malaysia alone.
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