Joint partnership has been announced between Toong & CapitaLand for co-working space.
Ho Chi Miny City is spreading its property wings. The first ever co-working space is to be opened in the city. It will be situated in CapitaLand’s new shopping mall, The Oxygen, that is located in District 2. Toong will allow in excess of 300 members to access modern amenities and services.
This is welcome news for companies and individuals who seek flexible office space. Ideally suited to start-ups, as well as small and medium enterprises, co-working spaces offer a solution to the changing shift in the way people work. The traditional office set up is experiencing competition as people turn to co-working spaces that do not demand long term lease commitments.
More people are working as freelancers or have a job that enables them to work from home. Thus there is an increase in people requiring flexible terms when looking for office space. Plus they are enticed by the opportunity to work in a shared environment that is conducive to the flow of ideas, productivity, and networking.
CapitaLand already have a successful track record of co-working spaces. The first being in Singapore which aimed to create a community as people work alongside one another.
Lim Ming Yan, president and ceo of CapitaLand Limited, commented, “CapitaLand aims to provide real estate of the future, and working closely with sharing economy players and technology start-ups is an important pillar of this strategic thrust”.
Toong launched in August 2015. It now has four locations in Da Nang and Hanoi. It is now Vietnam’s largest co-working space developer.