This article is part of a series exploring co-working spaces in Malaysia. Stay tuned to Smart Investor for more updates!
The brainchild of blog advertising network Nuffnang founder Timothy Tiah, Colony Space Asia differs from other co-working operators in its upmarket outlook, as well as its luxury amenities and services. Drawing its inspiration from the innovative working environments found in Silicon Valley, Colony launched its first 18,000-sq ft centre on Jalan Kia Peng, Kuala Lumpur in July 2017, with a second centre opening its doors in July this year at KL Eco City.
Colony’s upscale approach to the segment is apparent in the design of its centres. For example, Colony KL Eco City features a colonial theme, incorporating European and Asian design elements along with the brand’s signature monochromatic motifs. Complementing its chic interiors accented in pink are a suite of facilities and services which read like a dream wish list for the modern office worker.
These include a nap room for relaxation, kids’ play room and nursing room for working parents, gymnasiums and even massage rooms. Such appointments are in line with Colony’s goal of targeting the higher end of the market, as corporate players and affluent entrepreneurs would need an unquestionable value proposition to forego leases in conventional office spaces.
“We focus more on hospitality, rather than community or the start-up space. Start-ups and freelancers make up only up to 2% of employment in Malaysia. We’d like to target that remaining 98%, so we’re positioning ourselves to be seen as the Ritz-Carlton of workspaces,” says Colony Space Asia Executive Director and Co-Founder Timothy Tiah.
“These players can actually end up saving on costs with us, because meeting space and so on can be shared at the common areas, and they don’t need to manage services such as reception, Wi-Fi, cleaning and so on, including services they wouldn’t ordinarily source. Of course, they save on the costs of renovating the space as well.”
Spanning 20,000 sq ft over five floors, monthly rental at the RM4.6mil KL Eco City centre begins from RM386 for a hotdesk seat, with private serviced offices starting from RM1,888. Time-based passes are also available, priced from RM338 for 100 hours. Rental is inclusive of utilities, high-speed Internet and office cleaning services.
Following the success of its Kuala Lumpur and KL Eco City centres, Colony has reported plans to launch a third centre at KL Central. Representing an investment of RM4.5mil, the facility is planned for the Q Sentral building, with private offices and desks for more than 200 guests.