A GROWING ECOSYSTEM BEYOND SINGAPORE'S SHORES
Following its success with KLOUD in Singapore, Keppel Land is set to open new KLOUD centres overseas in Ho Chi Minh City in Vietnam and Yangon in Myanmar in November and December respectively this year.
The new KLOUD centre in Ho Chi Minh City is located at Keppel Land’s Saigon Centre Tower 2, a strategically located and vibrant mixed-use development with offices, serviced residences and a seven-storey retail mall where Takashimaya is the anchor tenant.
As for KLOUD in Yangon, it will be located at Junction City Tower, a new 23-storey office tower that is part of a mixed-use development called Junction City. This project, a joint venture between Keppel Land and Myanmar’s Shwe Taung Group, comprises five-star Pan Pacific Hotel, a shopping centre and residential towers.
Plans are afoot to roll out KLOUD in other markets like China, Indonesia and the Philippines. Keppel Land is now in the process of identifying buildings within its office portfolio that are in prime locations to expand the footprint for KLOUD.
As more KLOUD centres are opened in overseas markets, KLOUD members are able to tap on this growing eco-system to set up a presence in these markets quickly without the hassle of scouring for an office in an unfamiliar land. In this way, KLOUD offers its members a seamless expansion journey.
The office properties where Keppel Land chooses to open a KLOUD centre are always in prime locations in city centres, linked to transport nodes and have convenient accessibility to retail amenities. With shared meeting and event facilities, KLOUD members can enjoy much savings in occupancy costs. Existing tenants in these buildings can also take up temporary workspaces at KLOUD for short-term projects or book the meeting and event facilities there when needed.
“As both landlord and operator of KLOUD, Keppel Land is able to meet supplemental space requirements of existing building tenants and also incubate new growth businesses before they take up permanent and possibly, longer leases,” said Keppel Land’s General Manager of Marketing, Mr Albert Foo.
“Our KLOUD members can also scale up in tandem with their business growth as we open more KLOUD centres in new growth markets. These overseas KLOUD centres will be ideal options for corporates looking to have a satellite office for short-term overseas projects.”
Clearly, there is much room for KLOUD’s growth beyond Singapore’s shores. According to Cushman & Wakefield estimates, co-working stock in the Asia-Pacific stands at 10 million sq ft as at the first quarter of 2017, lagging behind Europe’s 20 million sq ft and the US's 40 million sq ft.