WeWork has promoted Balder Tol to General Manager, Australia and Southeast Asia (SEA). This announcement also aligns with WeWork’s enterprise members growth in SEA.
As WeWork’s first Australian hire in 2016, Tol’s member-first approach grew Australia’s membership to over 12,000 members across Sydney, Melbourne, Brisbane and Perth.
Not only has he established WeWork Australia as a reliable and trusted partner for enterprises, but he has also been at the forefront leading the return to office and economic recovery strategy for companies in Australia.
In his new role, Tol will continue to be based in Sydney and oversee WeWork SEA (Singapore, Philippines, Vietnam, Indonesia, Malaysia and Thailand), in addition to Australia. He will report to Samit Chopra, Managing Director, International (Strategy and Operations) based in Singapore.
“Balder is an inspiring and engaging leader, well liked by his team, members and the industry and is a proven strategic partner to WeWork’s stakeholders. Given the dynamic and diverse nature of SEA, Balder is undoubtedly the best person to lead the region. I am confident and excited to see how he advances SEA and Australia, at a time when our value proposition is stronger than ever,” said Chopra.
Tol also commented, “This role could not have come at a more pivotal time. This year marks my fifth anniversary with WeWork and we are at an inflection point of innovation and growth. I’m grateful for the opportunity to lead the team and redefine the flexible workplace market as cities start to open and organizations start to plan their return to office strategies. I am looking forward to partnering closely with the team to advance WeWork SEA by delivering an unmatched workplace experience.”
In line with the changes brought on by the pandemic, WeWork has introduced hybrid concepts such as hub-and-spoke (satellite offices), de-densification (spaces with reduced office density to be scaled accordingly) and Collaboration Hub (a flexible, customizable workplace design enhancing teamwork and creativity).
Through WeWork All Access, members can access any WeWork location, wherever is most convenient for them, and the company will launch On Demand (pay-as-you-go workspace) in SEA later this year.
The emphasis on flexibility is echoed by both our existing and new members, with close to 10 percent increase in the enterprise segment for WeWork SEA.
Across the region, WeWork has tracked renewed and new commitments from companies such as OPPO, Thales, Payoneer, Affinidi, Indepay, and Katalon. Confidence in WeWork’s solutions is further reinforced with more than 50% of WeWork’s global members having commitments longer than 12 months, contributing to an average full commitment term of well over 15 months.
Against an economic landscape that increasingly focuses on cash flow efficiency and productivity , lies a growing demand for optionality and collaboration in supporting business operations.
Beyond sectors like financial and technology, WeWork’s workplace solution is getting traction with diverse industries such as pharmaceutical, government and education across SEA. The government sector is particularly a significant driver for WeWork in Singapore, with a growth of more than 60% from last year.
LingoAce, a Chinese-learning platform for learners aged four to 15, is another company that has scaled with WeWork as it expands across the region.
LingoAce had first set up its headquarters in Singapore with WeWork. Fueled by increased demand for online language learning and new fundings, LingoAce leveraged WeWork’s presence in SEA and expanded into Thailand and Indonesia.
