US shared workspaces giant WeWork is set to launch in Vietnam early next month, starting with Ho Chi Minh City.
Its first location will be in the E. Town Central in District 4 of Ho Chi Minh City, and will feature four floors with the ability to accommodate over 1,000 occupants.
The shared workspace will be outfitted with all of WeWork’s characteristic amenities, including soundproof phone booths, conference rooms, and fruit water jugs (very refreshing).
WeWork will continue to open more locations in Ho Chi Minh City, as well as in other province and cities in Vietnam, next year.
Co-working spaces have been sprouting up in Vietnam in recent years. According to a CBRE Vietnam, the number of co-working spaces in Vietnam has risen by 55 per cent in the last five years.
Ho Chi Minh has at least 15 co-working spaces, while Hanoi has at least 19.
Some of the major Vietnamese co-working space operators include Up and Toong, which raised an undisclosed funding from IndoChina Capital in 2017. And besides WeWork, there are also two foreign co-working space operators in the country: China’s NakedHub and Hong Kong’s Hive.
A CBRE Vietnam survey found that 54 per cent of co-working space users in Vietnam are founders or employees of startups.
Image Credit: WeWork