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More companies are establishing new co-working spaces and serviced offices in Singapore, with some rushing to open their premises by 2018, reported the Singapore Business Review, citing a report from Colliers International.
For instance, The Executive Centre will be taking up a 20,000 sq ft space at Frasers Tower, which is expected to be completed in 2018. It is also the first serviced office that committed to take up space there.
Distrii, an operator of co-working facilities in China, will occupy over 60,000 sq ft of space at CDL’s Republic Plaza Tower 1 at the sought-after Raffles Place.
Envisioned to be one of the biggest co-working spaces in Singapore, the premises will also contain F&B venues, as well as facilities for recreation and entertainment. It is anticipated to start operating in the first half of 2018.
Meanwhile, the Working Capitol Group has agreed to take up 11 floors with a combined area of 55,000 sq ft in Crown @ Robinson at 140 Robinson Road. Just Office has also committed to occupy 34,000 sq ft in Marina One and 40,000 sq ft over two levels in UIC Building.
According to Colliers International, operators of co-working spaces and serviced offices continue to invest and expand in Singapore due to the city-state’s conducive environment for this new type of office space.
“The demand from these operators continues with many regional and global operators eyeing Singapore’s embracing environment for this occupier sector. Sustainability, evolution and saturation point of this niche will be carefully watched,” it added.
Senior Content Producer, Christopher Chitty, edited this story
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