THE PREFERENCE of entrepreneurs for flexibility is fuelling the growth of co-working space in Bangkok, said Noelle Coak, country head for Thailand, Taiwan and Korea of Regus, a global workspace provider.
Regus opened its latest premises in Bangkok at Singha Complex in Asoke area last week, boasting a total of 1,134 square feet. It is the company’s 21st branch in the Kingdom.
“This new opening is part of Regus’ commitment to continually expand into strategic locations across Thailand, and to meet the increasing demand for flexible workspace in the country. Hence, we continually strive to innovate and grow, and to provide the best flexible and convenient working experience that truly accommodates people looking for more inspiring options when working,” she added.
“The market for co-working space is driven by demand from new generations,” said Phattarachai Taweewong, research manager at Colliers International, a global real estate consultancy with offices in Thailand. “They want a place to work that is easy to reach at an affordable cost.”
Colliers estimates that co-working spaces in Thailand will increase by 25 per cent this year with both Thai and international firms contributing to the expansion. Hubba, a local company, opened the first co-working space in the Kingdom in the Ekamai area of Bangkok in 2012. Since then about 150 co-working spaces have opened across the country.
Phattarachai said there will be 269,000 square feet of new co-working space from 10 projects opening up in Bangkok in 2018, which will increase total co-working space to over 1.3 million square feet in the capital. While growth has been rapid, co-working spaces account for less than 2 per cent of total working space in Bangkok.
Four international companies – two from the United States and two from Singapore – are among those slated to open co-working spaces in Bangkok in coming months. Aside from WeWork, US-based Spaces will also open in three locations, while JustCo and The Great Room from Singapore will open in a total of six locations.