Project Hub’s Yangon co-working space to continue under new ownership

That cool co-working space on Nawaday Street in Dagon Township will still be available after Project Hub hands over the lease at the end of this month.

Building Markets, an international organization that helps entreprenuers and small businesses, is taking over and the co-working option will be available starting in early August. The hours, however, may not be as flexible.

“We will be indeed offering the space for co-working starting from August 3rd. Similar conditions, but probably simplified fee structure,” said Emmanuel Maillard, Myanmar Country Director for Building Markets, in an email.

“However, we may have more regular day events than Pete and Allison [Project Hub owners) used to. We will close the space for a couple days per month for trainings. We will of course schedule those monthly and prepare weekly schedules,” he added.

In later comments, Maillard said that ideal members are “organizations and consultants working on private sector development, social business, and Myanmar businesses and entrepreneurs, and priority to old members.”

By fee structure, Maillard means the kinds of memberships on offer. Project Hub sold several, including daily, part-time, full-time (9am-6pm) and a premium all-hours deal. The full-time monthly membership cost about $150.

Building Markets will charge $15 a day for one person and $200 a month, so a little pricier than Project Hub, though still much lower than what most office spaces cost in town. They will also rent out the entire space for $300 a day or $150 for a half day to accommodate trainings and events, but regular members will be notified in advance.

Project Hub was one of Yangon’s first co-working spaces when it opened up in 2013. Several sprang up afterwards as real estate costs rose and the demand for inexpensive office space grew.

Allison Morris from Project Hub said in an email last week that: “We decided that having a co-working space was not necessary for us to run our entrepreneurship programs, which is where we have most of our impact. So we’ll no longer offer co-working, but intend to continue to run Project Hub programs through our partners (who don’t usually require a co-working space).”

Photo / Facebook / Project Hub