WeWork Strengthens Focus on Enterprise Segment and Appoints New General Manager in Southeast Asia

weWork, platform workspace service providerwork space) world leader, has announced the appointment of Balder Toll as WeWork General Manager, Australia and Southeast Asia. This announcement is in line with the growth of members enterprise WeWork in Southeast Asia.

Prior to the COVID-19 period, economic growth in Southeast Asia was expected to reach an average annual growth of 5,2%, from 2018 to 2022.^[1]. Member countries Association of Southeast Asian Nations (ASEAN) is also predicted to become the fourth largest market in the world by 2030. The Southeast Asian economy is predicted to grow again this year. This is supported by the firm's projections market research global, GlobalData^[2] which estimates that the six largest countries in Southeast Asia, namely Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam, can record Gross Domestic Product (GDP) growth of around 4% to 9% in 2021.

Since arriving in Southeast Asia four years ago, WeWork has become a strategic partner for local and foreign companies looking to expand and increase their presence across the region. Today, more than 50% of WeWork members in Southeast Asia are large companies (enterprise), ranging from Fortune 500 companies, regional and local scale companies, to conglomerate companies.

WeWork Sinarmas MSIG Tower which is also located in DKI Jakarta

In the midst of today's conditions, flexibility is a strategic differentiator for corporate leaders to navigate future business challenges and opportunities to help support economic recovery in Southeast Asia.

As parts of the community in Southeast Asia return to work, employees and companies look to the future. In a recent study conducted by WeWork^[3], almost two thirds (64%) of employees feel that work space is very valuable and they are willing to pay for this facility themselves. Therefore, business leaders in Southeast Asia need to rethink their workspace strategies to integrate, energize and motivate their employees. Here comes the model hybrid function. In the workplace model that hybrid, employees can work from a variety of different spaces, including corporate offices, workspaces, public spaces, and also from home.

WeWork Revenue Tower located in SCBD, DKI Jakarta

Over the past year, WeWork took this opportunity to introduce the concept hybrid such as satellite office (hub-and-spoke), space with reduced density as needed (de-densification) and flexible and customizable workplace designs to enhance teamwork and creativity (Collaboration Hub). WeWork also plans to launch solutions such as All Access, a monthly membership to get access to all WeWork workspaces worldwide, and pay-as-you-go workspaces (On Demand) in Southeast Asia by the end of this year.

WeWork Members in Southeast Asia 

This emphasis on flexibility is shared by our members, both old and new. This can be seen from the increase in WeWork members from the segment enterprise in Southeast Asia which reaches about 10%. Meanwhile, across the region, WeWork has extended and secured new commitments from several companies, such as OPPO, Thales, Payoneer, Affinidi, Indepayand Catalon. The high level of trust in WeWork solutions is also reinforced by more than 50% of WeWork members globally committing more than 12 months with WeWork. This also contributes to the average full commitment period of more than 15 months.

Despite an economic landscape that is increasingly focused on cash flow efficiency and increasing productivity, the demand for choice and collaboration in supporting business operations is also increasing. In addition to the financial and technology sectors, WeWork's workspace solutions have attracted other industry sectors, such as pharmaceuticals, government, and education across Southeast Asia. In Singapore, the government sector was the most significant driver of WeWork's performance, with a growth rate of more than 60% over the previous year. Meanwhile, Lingo Ace, platform Mandarin learning for children aged four to 15, can also be an example of a company that has grown with WeWork as it expands into other areas. LingoAce first established its head office in Singapore using WeWork's solutions and services. With demand for online language learning and new funding steadily increasing, LingoAce is leveraging WeWork's presence in Southeast Asia to expand into Thailand and Indonesia.

Balder Toll, General Manager Australia and Southeast Asia, WeWork

WeWork's new Australia and Southeast Asia General Manager, Balder Tol will be responsible for leading the next phase of WeWork across the Southeast Asia region. As the first Australian employee to work at WeWork in 2016, approach member-first used by Balder Toll has grown WeWork members in Australia to over 12,000 members in Sydney, Melbourne, Brisbane and Perth. Apart from establishing WeWork Australia as a reliable and trusted partner for the company, he has also played a key role in leading the back-to-office strategy and economic recovery for companies in Australia.

In his new position, Balder Toll will continue to be based in Sydney and oversee the Southeast Asian region, namely Singapore, the Philippines, Vietnam, Indonesia, Malaysia and Thailand, as well as the Australian region. He will report to Samit Chopra, Singapore-based WeWork Managing Director, International (Strategy and Operations).

“Balder is an inspiring and engaging leader, well-liked by teams, members and industry and attested to by strategic partners for WeWork stakeholders. Given the dynamic and diverse nature of Southeast Asia, Balder is undoubtedly the best person to lead the region. I am confident and excited to see how he advances Southeast Asia and Australia, at a time when our value proposition is stronger than ever,” said Chopra.

Toll Balder also said, “This role is very important. This year has been my fifth year with WeWork and we are at a turning point in innovation and growth. I am grateful for the opportunity to lead the team and reorganize the flexible workspace market as areas open up and organizations begin to rethink their back-to-office strategies. I look forward to partnering closely with the team to advance WeWork Southeast Asia by delivering an unrivaled workplace experience. ”

Prior to joining WeWork, Tol was General Manager of Tank Stream Labs and Founding Team of Airbnb Australia. Tol holds a Master in Management from the University of Sydney.