Asian real estate technology group Juwai IQI announced plans today to build a data and technology team in Kuala Lumpur that it expects to eventually reach more than 1,000 persons. The move has been warmly welcomed by the Malaysia Digital Economy Corporation (MDEC) and is in line with the government’s MyDIGITAL initiative to attract RM70 billion investment in digitalisation by 2025.
Juwai IQI’s 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 that is being developed by EXSIM Group. Juwai IQI has begun the process of designing and fitting out its new space, with plans to move in during the first quarter of 2022.
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 their lifestyle with work. We hope to hire the very best technology workers we can.
“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.”
Juwai IQI Co-Founder and Group Executive Chairman Georg Chmiel said:
“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 digitalization trajectory.
“Juwai IQI is committed to helping lead the next wave of digital transformation. We are starting in Malaysia and expanding to ASEAN and the rest of Asia.
“Malaysia has what it takes to be the digital heart of ASEAN. There are 400 million mobile users in ASEAN, which is important because mobile is the platform on which we are building 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.
“All these factors make Malaysia the perfect environment for building a technology and R&D team.”
MDEC has warmly welcomed Juwai IQI’s hiring plans. Based on the new projection made by the Prime Minister, the digital economy’s contribution to the country’s GDP is expected to reach 22.6 per cent by 2025. In addition, the World Bank has forecasted a 6.7 per cent economic growth for 2021.
MDEC, with the full support of the Ministry of Communications and Multimedia (KKMM), will continue to lead the digital economy forward; centred on ensuring shared prosperity for the many and towards realising Malaysia 5.0.
This is focused on MDEC’s three strategic thrusts – empowering Digitally Skilled Malaysians, accelerating Digitally-Powered Businesses and attracting Digital Investments. MDEC is fully committed to rolling out key digital initiatives announced in Budget 2021 to ensure our society can fully leverage and benefit from 4IR technologies and establish Malaysia as the Heart of Digital ASEAN.
Surina Shukri, CEO of Malaysia Digital Economy Corporation (MDEC) said:
“We welcome Juwai IQI to Malaysia and are honoured that they have chosen Kuala Lumpur as their headquarters for global research and development. Juwai IQI’s expansion plans are a clear endorsement of investors’ confidence in Malaysia. As one of the fastest-growing real estate technology groups in Asia, Juwai IQI sold and rented properties worth US$1 billion in 2020, and also tripled the size of its agent force to more than 15,000 in the same year. The company’s commitment to creating more than 1,000 new job opportunities – in areas ranging from the platform and mobile app developers and data scientists to social network community specialists – is a testament to the high level of digital skills and capabilities of our Malaysian workforce.
“We look forward to Juwai IQI expanding their business in Malaysia and enhancing our globally competitive digital tech ecosystem. We are anticipating increased momentum from our efforts to land quality digital FDI which will support Malaysia’s Digital Economy Blueprint – MyDIGITAL – which aims to nurture an integrated ecosystem that promotes the adoption of the digital economy within our society.”
Datuk Wira Dr Hj. Rais Hussin Mohamed Ariff, Chairman of MDEC said:
“Malaysia is on track to become the Heart of Digital ASEAN, a testament to its differentiated value proposition that focuses on the needs of companies who are looking to land and expand in ASEAN and beyond. To date, Malaysia has attracted RM345 billion investments, creating close to 185,000 jobs – mostly from multi-nationals that have opened up their global business services and regional operations here in Malaysia.
“This achievement showcases Malaysia’s solid fundamentals which includes a diversified multilingual and digitally-skilled talent pool, ready infrastructure, as well as a mature ecosystem for the digital economy to thrive. These qualities align with the government’s MyDIGITAL initiative to attract RM70 billion investment in digitalisation by 2025. In support of this, MDEC as the agency leading the digital economy forward will continue to focus on attracting and nurturing investors to ensure shared prosperity for the many as we strive towards realising Malaysia 5.0.”