HKMB Hong Kong Means Business

Hong Kong Means Business Hong Kong Means Business
  • Login / Register

Languages

  • EN
  • 繁
  • 简
  • Events
  • My Feed
  • Contact HKTDC
  • Subscribe
  • Subscribe

Section Menu

  • multimedia
  • market spotlight
  • first person
  • Venture Hong Kong
  • heads-up
  • inside china
  • life & style
  • hktdc research

Languages

  • EN
  • 繁
  • 简
  • HKTDC.com |
  • About HKTDC |
  • My HKTDC |
  • Login / Register |

HKTDC.com About HKTDC My HKTDC

Login Register

Hong Kong Means Business

Section Menu

  • multimedia
  • market spotlight
  • first person
  • Venture Hong Kong
  • heads-up
  • inside china
  • life & style
  • hktdc research

https://hkmb.hktdc.com/en/1X0AK6WM

venture hong kong
SAVE FOR LATER
SHARE / SEND

"Scan QR Code" in WeChat and tap "..." to share.

Flexibility the key to space sharing

An Asia-Pacific flexible office provider sees client focus as a foundation for its success.

19 March 2020

Hans Leijten
Compass Offices CEO Hans Leijten

Hong Kong-based flexible working space provider Compass Offices, established in the aftermath of the 2008 global financial crisis, found its first decade of operation challenging, but the company remains bullish on its prospects.

Compass CEO Hans Leijten said the decade was turbulent but his firm remains a strong business, operating nearly 40 centres in nine cities and with an optimistic outlook for the future.

“When Compass Offices was founded 10 years ago, the world was familiar with business centres and serviced office products,” Mr Leijten said. “It was after the financial crisis and markets were starting to heal after the beating they received in 2008.

“Our founder, Andrew Chung, previously had one of his companies set up at the space of a serviced office operator. Having dealt with hidden prices and inconsistent services from the operator, Mr Chung knew he could do it better with more consideration for clients.”

Understanding the challenges businesses faced at the time, Mr Chung harnessed his own experience and knowledge to establish Compass Offices, providing workspace and professional services solutions that suited the different needs of each client.

Compass Offices conceived a hybrid model to compete with other operators vying for the same space, Mr Leijten explained.

Cafe culture

Compass
The harbour view from one of the 16 Compass business centres in Hong Kong

“When the coworking industry took off, it brought the concept where people from different companies share the same office, and this introduced a shared space environment,” he said. “What we noticed, though, was that our professional and corporate clients preferred to have their own private space and would make their way to cafes outside the building for informal communications and meetings.

“We saw this as an opportunity to review our product offering and provide what they were looking for – thus we incorporated in our centres business lounges and breakout areas similar to the cafes our clients went to outside.”

Compass Offices’ hybrid model, which “did not exist (elsewhere) in 2009”, gives clients privacy, with the option to have informal chats, host visitors, and join networking activities in the common area.

“They get to relax and unwind, and this ultimately enhances productivity for our clients as well,” Mr Leijten said. “People want to interact professionally and personally, and the lounge space is an added feature they’re happy to use.”

Asia-Pacific success

The model was “an instant success”, he added, explaining the “sure and steady growth” which followed in the ensuing decade. Today, the company has business centres in Hong Kong, Melbourne, Sydney, Kuala Lumpur, Singapore, Manila, Shanghai, Tokyo and Ho Chi Minh City, serving about 17,000 clients.

“We map out our strategies for different cities and plan out our next steps,” Mr Leijten said. “We always make sure our next steps are profitable. You need to have the right business model.”

The founders were optimistic from the outset but clients’ long-term support and appreciation still surprised them.

“While we carefully planned for success, it turned out to be bigger than we expected,” Mr Leijten said.

“We also anticipate further growth in our direction due to the changes in the way people work. People are environmentally conscious, and in a bid to go green, they are choosing flexible office space instead of renting a conventional office of their own, to reduce their carbon footprint.

“Market sources expect the flexible serviced office industry to grow by 20% to 30% by 2030, and we will ride this growth wave.”

Mr Leijten said: “We have a clear focus – we provide for professionals and corporate clients that are looking for offices with a contemporary design, modern fit-out, great value and services at an attractive price.

“We can also tailor to clients’ needs with our enterprise solutions that cater to specific workspace needs, design and location. Clients can enjoy flexible agreement terms, and the workspace can scale along with the growth of their businesses – thus saving on large upfront costs as well as project and outsource expenses.”

The Compass model generated client retention, Mr Leijten added.

“In terms of expansion plans, our first priority is always in the markets where we are present, and we look at centre expansions at one or two cities on a yearly basis,” he said. “We actively explore new growth opportunities and look for property owners to work with. Landlords and property owners are always welcome to contact us.”

And the outlook for the next decade? “Our success greatly depends on people, both our clients and staff, which is why the Compass culture focuses on being people-oriented,” Mr Leijten said. “After 10 years, we are grateful to our clients and our team, and we look forward to the next 10 where, together, we will continue to make ‘A Great Place to Work’.”

Related link
Compass Offices

BACK TO TOP ^
CONTENT PROVIDED BY
    Topics:
  • Business Management & Consultancy,
  • Real Estate Services,
  • Australia,
  • Malaysia,
  • Vietnam,
  • Hong Kong,
  • Australasia,
  • Southeast Asia,
  • shared space,
  • property,
  • commercial real estate,
  • real estate
  • Business Management & Consultancy
  • Real Estate Services
  • Australia
  • Malaysia
  • Vietnam
  • Hong Kong
  • Australasia
  • Southeast Asia
Home

Article Topics

ARTICLE TOPICS

BUSINESS MANAGEMENT...24628
REAL ESTATE SERVICES24754
AUSTRALIA35534
MALAYSIA36189
VIETNAM36197

ARTICLE TOPICS

BUSINESS MANAGEMENT & CONSULTANCY24628
REAL ESTATE SERVICES24754
AUSTRALIA35534
MALAYSIA36189
VIETNAM36197
HONG KONG36026
AUSTRALASIA35532
SOUTHEAST ASIA36184
SHARED SPACE132309
PROPERTY77500
COMMERCIAL REAL ESTATE132304
REAL ESTATE81727

interest_article

YOU MAY BE INTERESTED IN

20 May 2022

Driving digital revolution

20 December 2021

GBA draws property investors

06 December 2021

Offices get flexible

26 November 2021

Diversity and Connectivity: What You Need to Know about Greater Bay Area

Related Events

RELATED EVENTS

7 June 2022

HKTDC Research Seminar “Exploring the Metaverse: Industry Aggregation and Crossover Opportunities” (Webinar)

5 - 8 September 2022

Hong Kong Pavilion at FHA–Food & Beverage, Singapore

26 - 29 October 2022

Eco Expo Asia 2022

15 - 18 November 2022

electronica, München, Germany
FIND AN EVENT

Social Share

FOLLOW US

GET WEEKLY UPDATES

newpaper-img

GET OUR WEEKLY EMAIL UPDATES

banner-img


I acknowledge that the above information may be used by the Hong Kong Trade Development Council (HKTDC) for incorporation in all or any of its database for direct marketing or business matching purpose (and may therefore become available to the public within and/or outside of Hong Kong for use by them), and for any other purposes as stated in the Privacy Policy Statement; I confirm that I have the consent and the authority of each individual named in this form to release their personal data for the purposes stated herein.


*For non-EU/EEA customers, please skip this box which is solely for EU/EEA customers as required by the relevant data protection law in the EU.

THANK YOU

Thank you for registering.

SHARE THIS STORY

EMAIL
LINKEDIN
WeChat
FACEBOOK
TWITTER
WHATSAPP

ID: HKTDCofficial

Don't have an account?

Create An Account

successfully added on your preferences.