B2B Cambodia sat down with Lars Wittig, Senior VP APAC North at IWG, a leader in hybrid working spaces, to discuss evolving coworking space trends in the region and beyond, the economies of running a business that specialises in hybrid workspace solutions, how IWG and its brands like Regus have been able to continue thriving in Cambodia, and more.
IWG's Presence In Cambodia – Regus
IWG is a world leader in hybrid working with over 4000 flexible workspace centres in 120 countries across the world, with multiple brands like Regus, Spaces, HQ and more.
Wittig shared how IWG pioneered the flexible workspace business into Cambodia over a decade ago under its ‘Regus’ brand, and today boasts a 90 per cent occupancy of its coworking spaces.
“Business is really filled to the brink, demand is very high,” said Wittig. “It comes from new investors entering Cambodia, but also existing businesses. Everybody seems to be gravitating towards the flexible solution, and that's obviously what we are offering.”
Regus coworking spaces are currently present in Phnom Penh at the following locations:
- Exchange Square
- Canadia Tower
- The Elysee Building (Koh Pich)
What Advantages Do Flexible Working Spaces Have Over Traditional Fixed Office Spaces In Cambodia?
Wittig explained that one of the main advantages flexible coworking spaces offer is the ability for market newcomers and entrepreneurs to focus on their business while Regus will take care of the real estate side of things.
“We will focus on the real estate part and make sure that you have a professional productive workspace available to you, anytime and anywhere,” he said.
Another major benefit is that once you become a Regus/IWG member, you can drop into any of the many coworking spaces the company has around the world.
So even when you are out on the go, traveling, you can always drop into any of our locations near you. So in other words, if you become a customer, or ‘member’ as we like to call it, then you can drop into any of our 4000+ locations… Should you go on vacations to Bali, Hawaii, or to Phuket, we have multiple centers in each of those locations as well.
One important distinction that Wittig emphasised was that becoming a Regus member involves signing a service agreement and not a lease or sub-lease.
“I need to stress that it is a service agreement and not a lease or sub-lease. The CFO will find this very important, because if you sign a lease, then for whatever number of years [the lease] is, it is a liability that you must post on your balance sheet. For a service agreement, there's nothing to post,” he said.
It is short term and super flexible with us, we make sure that you never pay for more or less than exactly what it is that you need, and we make sure that you are more productive…
Watch the full interview for the full details.