The Flexi Group Merges 3 Coworking Operators

The Flexi Group Merges 3 Coworking Operators In Asia

ASIA PACIFIC – The Flexi Group claims it has created the biggest operator of coworking spaces in the Asia Pacific (APAC) region after it has amalgamated 3 flexi office operators, according to a press release published on Media OutReach on Tuesday (29 November, SGT).

With the merger of the Hive, The Cluster, and Common Ground, The Flexi Group now has 45 coworking centres across 12 cities and 9 countries in the region, namely Singapore, Hong Kong, Malaysia, Australia, Thailand, Taiwan, Vietnam, Japan, and the Philippines.

With the move, The Flexi Group will also be able to offer various services such as typical coworking memberships, full-service enterprise, and white labelled management solutions.

The group revealed that the merger, which is the 1st in a series of planned consolidations, is supported by investment from Malaysia-based Emissary Capital and Singapore’s Catcha Group.

Unlike other coworking space operators, The Flexi Group has adopted an asset-light approach by teaming up with commercial property owners instead of signing a traditional office rental agreement.

Its landlord partners in Asia include Petronas in Malaysia, Thailand’s Central Group, Hirsch and Faigen in Australia, and Hong Kong’s Chinachem Group, with more to come over the next few months.

“We work with some of the leading office landlords in the region who see flexible workspaces as a natural evolution of their business,” commented The Flexi Group’s Chief Executive Chris Edwards.

“They work with us to help engage the tenants in their buildings, offering them access to best-in-class events, flexible work solutions and bookable meeting and event spaces. Asset owners can also unlock revenue potential as our partners see increased returns of up to 30 percent versus a traditional lease structure.”

Furthermore, Edwards revealed that they will continue to expand the three coworking brands – the Hive, The Cluster, and Common Ground – across Asia Pacific, with multiple new coworking centres poised to open in Singapore, Malaysia, Thailand, the Philippines, and Australia over the next 12 months.

“Our multi brand for a multi-demographic approach is unique in the region. This strategy gives us the opportunity to partner with landlords across a variety of asset classes across Asia and Australia.”

“With our multiple brands targeting a different market segment across a variety of industries, we will see exponential growth and are forecasting to grow by up to 100 locations in the next three years,” he added.

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