INFINITY8, a leading co-working space provider, has officially launched its first co-working space in Penang, marking the company’s expansion into the northern region of Malaysia. Named INFINITY8 Reserve George Town, this new space is strategically located in a 25,000 sq. ft. heritage building on Beach Street, once home to Standard Chartered Bank for over 87 years.

The opening ceremony was officiated by Penang Chief Minister Chow Kon Yeow, who emphasized the significant impact this co-working space could have on the state’s economy. “INFINITY8 Reserve George Town offers more than just a workspace; it is a platform for innovation, collaboration, and business growth,” Chow said. He highlighted that the space will attract both local and foreign enterprises, facilitating cross-border collaborations that can lead to new ventures and strategic partnerships. “The co-working space provides access to key market insights, local expertise, and support services like IT and legal assistance, reducing the risks and costs associated with setting up a business in Penang,” he added.

Chow also underscored the growing importance of co-working spaces in the digital era, particularly in a state like Penang that prioritizes inclusivity and innovation. He pointed out that the Covid-19 pandemic accelerated a global shift towards remote work, leading to a surge in the number of digital nomads—professionals who work remotely while traveling. “Penang has become a magnet for digital nomads due to its affordability, safety, and vibrant cultural scene,” Chow said. The state was recently ranked 10th in the Nomad Index (2023), which evaluates the best cities for digital nomads to live, work, and travel. This ranking places Penang ahead of notable cities like Kuala Lumpur, Da Nang, and Seoul.

In line with this trend, INFINITY8 Reserve George Town is poised to cater to the growing community of digital nomads, offering them a dynamic and flexible workspace that meets their unique needs. The space is housed in a 100-year-old colonial building, also known as the Standard Chartered Bank Building, which has been meticulously restored to blend historical charm with modern amenities. The location’s proximity to various facilities and amenities makes it an ideal spot for both local and international professionals.

INFINITY8’s co-founder, Lee Sheah Liang, expressed his enthusiasm for the new venture in Penang. “This is our 10th branch nationwide, and it’s particularly special because Penang is my favorite city in Malaysia. After nearly nine months of planning and discussions, we are thrilled to open this space and contribute to the state’s vibrant business ecosystem,” Lee said.

Founded in Johor Bahru in 2017, INFINITY8 has quickly established itself as a leader in the co-working industry, known for its mission to “redesign space, redefine work.” The company’s spaces are designed to inspire creativity and foster collaboration, making them ideal for startups, freelancers, and established businesses alike.

The new Penang branch is expected to play a pivotal role in attracting investments, supporting local startups, and fostering a dynamic business environment. By providing a conducive space for businesses to thrive, INFINITY8 Reserve George Town is set to contribute significantly to Penang’s economic growth, making the state an even more attractive destination for talent, investment, and innovation.