Colony snares another big win as co-working trend picks up pace in Klang Valley

  • Regional startup, Carsome to move its 150-person HQ to [email protected] Damansara
  • Move reflects commitment to provide an elevated working experience for its team

 

Eric Cheng, CEO and co-founder of Carsome (left) and Timothy Tiah, executive director of Colony.

 

CARSOME, a leading Southeast Asian (SEA) online used-car auction platform is moving its headquarters with 150-person team to luxury coworking space provider Colony. The move comes as Carsome ramps up its expansion and operations in SEA.

Carsome will be moving in July to Colony @ Mutiara Damansara, which will be Colony’s latest co-working location.  Together with a previously announced deal with Malaysia’s largest snack company Mamee, Colony @ Mutiara Damansara is already slated to open with 81% occupancy rate in July.

“We are excited to announce that we’ll be moving our headquarters to Colony. The move shows our commitment to provide an elevated working experience to the team while gaining a solid foothold in SEA,” said Carsome co-founder and chief executive officer Eric Cheng (pic above, left).

After raising a total funding of over US$7.1 million from global investors and landlord financing, the new 19,000 square feet co-working space is Colony’s first foray into Selangor. Colony @ Mutiara Damansara is located at KYM Tower, a new Grade A, Green Building Index Gold Certified and MSC Status building located just five-minutes from the Curve.

Carsome is the first automotive website in Malaysia that provides efficient car-selling services to individuals and entities. Carsome provides multiple touch points for sellers to sell the car, while ensuring a fair trade-in price through its online auction platform. Funded by solid local and global investors, Carsome has raised over US$35 million in funding and is currently operating in Malaysia, Singapore, Indonesia, and Thailand with over 14 inspection centres.

“We are honoured to be Carsome’s trusted partner in their journey of growth. Our goal is to give established companies such as Carsome, peace of mind when it comes to their workplace. This way they can focus on what matters most in their business,” said Colony executive director Timothy Tiah (pic above, right).

The Carsome and Mamee deals follow on the heels of a RM5.6 million anchor tenant deal that Colony signed for its second location at KL Eco City, showing the early stages of a trend where companies with large headcounts are looking for more conducive work environments to attract talent, especially millenials and centenials.

 
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