Juwai IQI is looking to develop a technology team in Kuala Lumpur with a goal of over 1,000 team members. The plan has been approved by the Malaysian Digital Economy Corporation (MDDEC) and works alongside the government’s MyDIGITAL initiative, a program to bring in RM70 billion for the digitization of the market by 2025.
Surina Shukri, CEO of Malaysia Digital Economy Corporation (MDEC) said:
“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.”
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.”
With plans to place the new technology center at the Millerz Square at Old Klang Road, this 6.8-acre mixed development project will have both residential and commercial buildings. The official launch is set to take place during the first quarter of 2022.
Juwai IQI Co-Founder and Group Executive Chairman, Georg Chmiel, explained that Malaysia was the obvious choice for such a center, as Juwai IQI believes it has the ability to become an epicenter of ASEAN:
“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 center 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.”
Juwai IQI isn’t the only company with its eyes set on Kuala Lumpur for expansion. Earlier this year, PropertyGuru snatched up a Kuala Lumpur-based real estate analytics and insights company, while FDV bought 46 million shares in Catcha Group.