First co-working serviced office in KL to be profitable within 3 months
A report by JLL stated that there are 36 co-working spaces in KL alone in 2017. In such a saturated market, it usually takes co-working spaces and serviced offices in KL 12-18 months to turn profitable. Even for large and well established serviced offices.
Initially, the goal set for Colony was for it to turn a profit after 6 months.
However, Colony has been greatly blessed to be able to perform beyond expectations.
“Even if you count the depreciation of our renovations and everything, we are still profitable. This is awesome, because very few co-working spaces in the region are actually profitable, especially over a short period like this.” – Timothy Tiah
What sets Colony apart from the traditional serviced office or co-working space?
When Tiah conceptualized Colony co-working space, he set out to be the most profitable.
This influenced the entire vision and mission of Colony.
It influenced the choice of locations, the branding, marketing, and pricing strategies, the design of the serviced office spaces and the co-working areas, right down to the target market.
This, combined with the passion to change the experience of work in Malaysia and beyond, enabled Colony to attract the attention of companies both big and small.
Hospitality in the workplace
Colony currently has a paid guest occupancy rate of 45%. At Colony, we call all our tenants guests as we believe in hospitality in the workplace.
With this vision in hand, Colony co-working space and serviced office has also attracted the attention of many large companies. HP, Microsoft, Mont Blanc, and Linkedin, are just among the companies that have chosen to hold events in the Colony space.
Read more about why we think Colony has an edge over its competitors here.
This is not the end
“One month doesn’t make a quarter, and a quarter doesn’t make a year. And a year doesn’t make a business.
Only the paranoid survive. And I am paranoid”. – Tiah
Colony takes this as a minor stepping stone to be able to achieve greater things. Colony will continue to strive to be the best in the co-working space and serviced office industry in Kuala Lumpur and beyond.
As such, be excited, and watch this space.
The best is yet to come.
We would love to credit this amazing achievement to the team behind Colony. Without them, Colony would not be able to stand tall.