UEM Sunrise Bhd. agreed to create a 50/50 joint venture company with Australia-listed BlackWall Ltd. to jointly construct and operate WOTSO-branded co-working spaces in Malaysia and Singapore.
The partnership is meant to aid the development of co-working spaces in UEM Sunrise's current and future projects, starting with the roughly 13,000-square-foot Mercu Summer Suites in Kuala Lumpur in the second quarter, which is expected to hold roughly 240 members.
BlackWall owns the WOTSO brand and has rolled out a network of co-working hubs in Australia under the platform.
