PKNS Real Estate Sdn Bhd (PREC) announced a joint venture with Common Ground, the largest coworking operator in Malaysia, to open up a new Common Ground space at Menara Worldwide, Jalan Bukit Bintang, Kuala Lumpur. 

PREC Chief Executive Officer, Sr. Fakru Radzi Ab Ghani believes that this joint venture is aligned with the company’s increased attention in the startup and tech-related businesses. 

“Our vision is to deliver the true proposition of coworking space by fostering camaraderie and the sharing of ideas amongst like-minded people”, said Radzi.

“As a joint venture partner with Common Ground Menara Worldwide Jalan Bukit Bintang and a building owner through its wholly-owned subsidiary company, Central Holding Berhad, PREC expects to drive more innovative communities and successful entrepreneurship in Malaysia. We strive for new ideas in managing spaces in order to enhance property value through asset improvement activities”, Radzi added.

Bukit Bintang is Common Ground’s fourth venue since launching in 2017. Co-founded by Juhn Teo and Erman Akinci, the game changing business has since acquired over 1,200 members across its four venues with ambitious plans to expand both locally and regionally into Thailand and Philippines this 2018. As a business that aims to redefine workspaces throughout Southeast Asia, Common Ground partners with various lifestyle businesses such as Fitness First, Happy Fresh and Pressto to cater to the flexible and mobile livelihood of today’s workforce. 

Co-Founder of Common Ground, Erman Akinci said “As we continue to identify new opportunities to grow and diversify our business, it’s partnerships like these that help us shape our local foothold as we expand our business within Malaysia as well as our other targeted countries. Aligning with venue partners who share the same values makes for a more exciting and beneficial relationship. We aren't just a coworking space but a value-add to not only our Common Ground members but also the community within Menara Worldwide.” 

PREC believes that the Common Ground space within Kuala Lumpur Golden Triangle will create demand and encourage take-ups among business in the city. It is within walking distance to the upcoming MRT station, convenient with pedestrian access to nearby office buildings, malls, hotels, and banks. The location on top of Menara Worldwide also features artistic design to inspire creativity and innovation with a 360-degree view overlooking the bustling city center.

PREC is an investment arm of Selangor State Development Corporation (PKNS) who currently owns six assets in Klang Valley area. They are planning to seek more collaboration opportunities to explore potential investment in industries such as retail and technology.

“PREC will continue to expand its business and this is also a part of our journey to be listed in REITS by the year 2020”, said Radzi. 

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