coworking space

A new co-working space to help local companies innovate and develop products will be launched in the Jurong Innovation District (JID), announced Senior Minister of State for Trade and Industry Koh Poh Koon on Tuesday (Mar 3). The SIMTech Innovation Factory – an initiative by the Agency for Science, Technology and Research (A*STAR) in partnership with Enterprise Singapore – will be operationally...

Office-sharing startup WeWork on Thursday (Oct 10) said it will open two new locations in Singapore this year, even as its seeks a US$1 billion lifeline from its biggest-backer Softbank Group to progress a major restructuring. The New York-based startup, which had to abandon an initial public offering last week because of investor concerns about how it was valued and its business model, will open new...

The coworking business is here to stay notwithstanding the recent woes of coworking giant WeWork that has forced it to pull the plug on an initial public offering, according to separate reports from Jefferies and DBS. A Credit Suisse report earlier this week said poor sentiment on the company could further damp demand for coworking spaces amid slowing gross domestic product growth, hurting office Reits...

Concerns about co-working giant WeWork may amplify the negative impact of a weakening economy on Singapore's commercial real estate investment trusts (Reits), according to Credit Suisse Group. Poor sentiment on the company could further damp demand for co-working spaces amid slowing gross domestic product growth, hurting office Reits, analysts led by Nicholas Teh wrote in a report. "Office Reits have...

Coworking spaces now take up 3.7 million square feet (sq ft) in net lettable area (NLA) of Singapore's commercial space, tripling from 1.2 million sq ft in 2015 to become one of the top six occupier sectors, said Colliers International. The top occupier sector in the Singapore CBD (central business district) Grade A office space are financial services, followed by professional services, technology,...

With its free coffee, couches and glass partitions, shared workspace startup WeWork has shaken up both office culture and commercial real estate. Brushing aside questions about its business model, the New York outfit shows no signs of slowing down and is now preparing for its Wall Street debut to raise fresh capital. As recently as this month, WeWork was seeking to tap credit markets for US$4 billion...

Co-working space provider WeWork is set to take over the lease of the 21-storey HSBC building in Collyer Quay, marking an expansion by the US firm in Asia. WeWork, backed by Japan's SoftBank Group, will lease the building from CapitaLand Commercial Trust (CCT), the Singaporean office landlord said in a statement on Wednesday (Jul 17). The tower, 21 Collyer Quay, will be WeWork's biggest property in...

Co-working space provider JustCo will open at Manulife Centre in the fourth quarter of 2019, it said on Wednesday. JustCo at Manulife Centre will take up more than 50,000 square feet (sq ft) and occupy two levels of the building, which is at Bras Basah’s Art and Heritage district. The new space is expected to house more than 1,000 members, and will bring JustCo’s portfolio to a total of 33...

Spaces, owned by flexible workspace provider IWG, has opened two new locations in Singapore, at TripleOne Somerset and Clarke Quay. This brings the number of locations it has to four, with plans to open an additional two more by year-end. The TripleOne Somerset branch has a blue-chip tenant list which includes luxury and lifestyle brands such as Gucci, Casio and Samsonite. It spans over 35,000 square...

Singapore-based co-working space The Great Room (TGR) is opening at Raffles Hotel Singapore, its fourth location in the city state. This will be the first co-working space to be integrated in a six-star hotel, and will occupy 15,000 sq ft of space on level two of the restored Raffles Hotel Singapore, which will reopen in a few months. TGR offers flexible work space to multi-national corporations,...