A game changer in transforming the future of work, WeWork Uptown Bonifacio will serve as a launch pad for homegrown companies looking to grow their presence through WeWork’s global community
(From left to right) Edukasyon.ph Chief of Strategy Judge Calimbahin, Klook Philippines Market Lead Michelle Cruz, WeWork Director of Engineering (Technology) Beverly Dolor, Taguig City Deputy Chief of Staff Atty. Maricar Loinaz-Sarmiento, WeWork Managing Director of Southeast Asia Turochas “T” Fuad, Megaworld Senior Vice President Jericho P. Go, and Megaworld Vice President JP Balboa celebrate another WeWork milestone as it officially launches its first Uptown Bonifacio location in Manila, Philippines.
WeWork—a platform for creators that provides the space, community, and services to help people make a life, not just a living—has officially opened its first Philippine location in Uptown Bonifacio Tower Three central to the Bonifacio Global City (BGC) enclave, and promises to make Filipinos love Mondays again. Fortified by strong demand from enterprises, startups to small and MSMEs (micro, small, and medium entrepreneurs) in joining the WeWork community, WeWork will also be expanding its presence to RCBC Plaza in Makati City by Q2 2019.
On the heels of WeWork’s new locations including Ho Chi Minh and Kuala Lumpur that opened in late 2018, WeWork’s first community in the country is a milestone set to pave the way for revolutionizing the way Filipinos view work. Accommodating over 800 members across the 9th and 10th floor of the Uptown Bonifacio Tower Three Building, this will strengthen WeWork’s Southeast Asia total reach to more than 13,000 members in its regional community.
Testament to its local commitment in further accelerating the future of work in the dynamic Filipino market, WeWork Uptown Bonifacio also boasts thoughtfully curated elements such as a games and karaoke room and an indoor garden area amongst its signature features, where freelancers, startups, MSMEs, and enterprises on the lookout for enhancing their work environment and elevating their businesses to the next stage, will be further empowered by its global network.
“With Philippines a rising economy in Southeast Asia, there is no better time to be here than now. WeWork is not just about the space, but also the value that we create by providing an inclusive member-driven experience that fosters an environment of creativity and collaboration across a vibrant global community of individuals. As our footprint continues to grow in Manila, we are committed to helping Philippine-based enterprises, freelancers, startups, and MSMEs by harnessing the power of WeWork’s global network and community. We look forward to fostering greater cross-border collaborations and ideation that will spur business growth in the region,” said Turochas “T” Fuad, Managing Director, WeWork Southeast Asia.
WeWork’s “global company, “local playbook” approach
Grounded by its core mission of creating opportunities for community and collaboration through optimizing space with good design, WeWork has since expanded its footprint worldwide with 425 physical locations in 100 cities in 27 countries. Driven by its expansions in 2018, its Southeast Asia stronghold has seen its footprint grow to 17 locations in total through new locations in Singapore, and new markets such as Indonesia (Jakarta), Vietnam (Ho Chi Minh), Malaysia (Kuala Lumpur) and Thailand (Bangkok).
The company’s growth has always been driven by the mantra, “global company, local playbook”, which marries its proven expertise around the world with a local approach to space design and member experience. Dedicated to its local commitment in Philippines through close collaborations with key partners and experts in creating a unique WeWork Philippines experience, this is most visible in WeWork’s effort to incorporate Filipino elements in its BGC site, through the use of art.
With WeWork leading the world in thinking about the interaction of space, people and technology together, its new Manila location is testament to building the heart and soul of the local community. Along with expanding our physical footprint around the world, there has also been increasing demand from landlords through participating leases that enable them to share in the growth and upside on a global level.
Achieving great success with participating leases with landlords such as Daman Land (Malaysia), Sinar Mas Land (Indonesia), Fung Group (Shanghai) amongst others, WeWork is creating value by helping to revitalize buildings and neighborhoods, attract new tenants and create greater value.
Research by the leading real estate consultancy HR&A showed that WeWork can help generate as much as 29 percent in rent premiums for building owners, where in select buildings that sold after WeWork moved in, there was a 50-120 percent increase in sale price. Leveraging on its brand value, global footprint and member base, WeWork looks forward to partnering with landlords in navigating market complexities with our expertise in Philippines and beyond.
“As WeWork strengthens its presence in Southeast Asia, whether it’s work, living, education, wellness, or retail – we can reimagine, reshape, and re-humanize the architecture of our space, our buildings, and our cities to support and encourage human connection and creativity,” Fuad concludes.
