CoGo introduces coworking space model

CoGo hits the coworking market and the startup community by giving an annual budget of VND5 billion to support the Viet startup enterpises....

2018 is expected to be a booming year for coworking space with strong transforming in quantity, quality as well as sizes of players.

THU HÀ

13/06/2018 09:00

Only in the first 4 months of 2018, Vietnam real estate market has witnessed remarkable achievements of the office leasing segment. The occupancy rate is over 95% in HCMC and continues to increase, especially A-tier buildings.

Not only that, the office supplying the central area of Hanoi and Ho Chi Minh City is becoming scarce. Finding space is not easy anymore. The occupancy rate of the whole market has steadily increased in the last two years and reached 94% in the 4^th  quarter of 2017. Regarding the central area, the current capacity is 97% and is expected to increase if the market does not have any additional office projects which come to operation in 2018.

 A "Coworking space" piece of cake

In fact, in Vietnam, the concept of coworking space has been around for some time, but most real estate investors and users still do not have an overview of the benefits or even not know the model. From 2015, coworking space trend in Vietnam is developing strongly with participation of domestic and foreign players.

In the world, the coworking space model is growing at an average rate of more than 50% per year over the past five years. The value of coworking space companies is growing fast, especially WeWork has become the third largest startup in the US and sixth in the world for $ 20 billion after only 7 years.

According to CBRE's report, in the first six months of 2017, 17 Vietnamese companies were operating in 22 centers with the total arena of 14,500 sqm. By the end of Q1 2018, the number of players comes to 40, providing the market with 50 centers with a 30,000 sqm floor area. 

However, the average size of each coworking space in Vietnam is just over 1,000 sqm, not enough space and space to meet a true coworking space. It is 2,000 sqm to 5,000 sqm the size of a coworking space in the world.

With an average annual growth rate of over 58%, the number and area of coworking sites has increased dramatically, names such as UP, Toong and Dreamplex becoming popular.

By the end of 2018, it estimates that the coworking market in Vietnam will grow strongly in both quantity and size. The total area of coworking space will increase over 90,000 sqm. The race between domestic investors and big names in the region as well as worldwide is expected to be very exciting.

Typically, after the successful China based nakedHUB - which owns two coworking spaces in Hanoi and HCM City, WeWork will continue to implement its expansion plans in Vietnam.

Ucommune, JustCo, the Hive ... are also planning to penetrate the Vietnamese market in the near future. A new comer - CoGo, was founded by former founders of the Tran Anh Consumer Electronics Stores will officially enter the market in June, contribute to market over 7,000 sqm floor area of first 3 centers.

Just launched, but CoGo hits the coworking market and the entrepreneurial community by suppoting policy to start-up community. CoGo committed to give an annual budget of 5 billion to support 200 free seats (equivalent to 10% of total current CoGo's seats) for Viet startup enterprises.

With these positive signals, 2018 is expected to be a booming year for coworking space with strong transforming in quantity, quality as well as sizes of players.

CoGo helps members to minimize costs and increase productivity

With a design that is based on different levels of privacy for users, from private office to common area, CoGo wishes to provide an enjoyable and comfortable experience for its members.

In addition, CoGo members have 24/7 access to all locations in its network nationwide. This flexibility is perfectly suited to individuals who frequently travel between different locations and have unpredictable working hours.

Also, when making the decision to move your office to coworking space, the members have saved themself half the cost of choosing a traditional office. The worry around the amount of money spent on running an office has disappeared, stay focus for the work is the only thing you shoud do now.

On the occasion of the official launching, CoGo offers Up To 11 Months Free of Rent promotion program (equivalent to 49% discount) to tenants signing contracts in July and August 2018 and always give 200 free working seats to support the startup businesses.
CoGo Viet Tower - Level 3-4, No. 01 Thai Ha str., Dong Da dist., Hanoi
CoGo TNR Tower - Level 16, No. 54A Nguyen Chi Thanh str., Dong Da dist., Hanoi
CoGo Ho Guom Plaza - Level 12, No. 102 Tran Phu str., Ha Dong dist., Hanoi.
Website: http://www.cogo.vn
Hotline: 1900 1160

Nguồn: Báo vneconomy - Nhịp sống kinh tế Việt Nam và thế giới.