Following the launch of Malaysia’s ambitious MyDIGITAL digital economy blueprint, Asian real estate technology group Juwai IQI has announced Malaysia will be home to its global research and development headquarters.
After careful deliberation, Juwai IQI’s senior leadership selected Malaysia’s capital, Kuala Lumpur, as a hub for its data and technology team, which is expected to reach more than 1,000 persons eventually.
The technology hub will be located at Millerz Square at Old Klang Road. Millerz Square is a 6.8-acre mixed development project consisting of residential and commercial towers with a gross development value of RM1.8 billion developed by EXSIM Group. Juwai IQI has begun designing and fitting out its new space, with plans to move in during the first quarter of 2022.
In his announcement, Juwai IQI co-founder and group CEO Kashif Ansari said: “Today, we are making Kuala Lumpur our headquarters for global research and development. We have another team in Shanghai, which remains our base for R&D for greater China. With offices in both locations, we have our roots firmly embedded in two of the deepest pools of technology talent in the world.”
“After the pandemic hit, we had to think carefully about where to build this data team. Exsim Tower is the perfect location to build a large technology team. It gives our team easy access to the entire metro area and makes it convenient for them to balance lifestyle with work. We hope to hire the very best technology workers we can,” he added.
Juwai IQI has transacted more than 17,000 properties in 2020, and engages 5.5 million monthly active users, and advertises US$4 trillion of property from 111 countries every year.
Malaysia as technology hub
In addition, the group said this move is aligned to the Malaysian government’s MyDIGITAL initiative, which includes attracting RM70 billion investment in digitalisation by 2025.
Juwai IQI co-founder and group executive chairman Georg Chmiel explained: “Malaysia is fast becoming one of the most important technology hubs in Asia. Malaysia has a much larger workforce than does Singapore, universal English proficiency and a far-sighted outlook on its digitalisation trajectory,”
“Malaysia has what it takes to be the digital heart of ASEAN,” Chmiel continued. “There are 400 million mobile users in ASEAN, which is important because mobile is the platform on which we are building the advanced services that will power our future growth. The United States has just 276 million mobile users.”
“ASEAN and China lead the world in mobile users, digital penetration, internet users and in the penetration of super apps like WeChat, Gojek and Grab. Asia is also the new global economic centre of gravity and home to more high net worth individuals than any other region in the world.”
Kashif Ansari further elucidated: “Workers value lifestyle much more highly than a more central location. Places like Millerz Square are more attractive even than before. Technology staff want to be far enough from the CBD to be able to afford a larger home with more outdoor space and amenities.”
“The Millerz Square project is like a township in itself, with retail, residential and office. It offers our team every convenience. There are many nearby serviced apartments and hotels where visiting team members and partners from out of town can stay while visiting.”