Written on 13 March, 2018 by investPenang 

Regus Malaysia officially open the door of their latest addition here in Penang last week. The 4th centre located in SPICE Arena, Relau has office space of approximately 10, 465 sq. ft.

YB Dato’ Haji Mohd Rashid bin Hasnon – the Deputy Chief Minister 1 of Penang – who was present to officiate the opening conveyed his congratulatory remarks to Regus Malaysia for their steadfast quest in providing flexible working options for businesses in Penang.

“The demand for office space especially MSC status buildings is increasing in Penang as Penang continues to attract more investments and re-investments. Knight Frank 2H 2017 Real Estate Highlights reported that occupancy rates for newer buildings in Bayan Baru have higher occupancy of around 97%,” he said.

Regus’ 3rd centre which was opened in December 2017 at Menara Boustead recorded an average occupancy of 85% to-date together with the other 2 sites at Ideal Bayan Lepas and Gurney Paragon. According to Rashid, Regus has invested a total of RM9 mil in Penang with a workforce size of 9 headcounts to manage the operations in the state.

On the same occasion, he also announced that Penang is the top recipient of approved FDI in 2017 among the states in Malaysia at RM8.5 billion, and second for total manufacturing investment at RM10.8 billion. The state also recorded the second largest investment for Global Establishment for Services or ‘Principal Hub’ valued at RM4.1 bil in 2016, only after Kuala Lumpur.

“Penang continues to be a preferred destination to work, live and play. The GBS industry in Penang has created over 10,000 high value knowledge-based jobs over the years with more than 50 companies. With RM75 million allocated for our STEM efforts and the upgrading of infrastructure to make Penang as a livable international and intelligent city, we look forward to receiving more dynamic individuals to strengthen the talent pool in Penang.”

For more information, please check out https://www.regus.com.my/office-space/malaysia/penang/bayan-lepas-spice-arena.

Photo source: Jayanthi C. LinkedIn