SINGAPORE - Mainboard-listed Perennial Real Estate Holdings has leased over 20,600 square feet of space at Capitol Singapore to global workspace provider IWG.
IWG will launch its premium co-working space concept with private offices and club amenities branded as No18 at level two of Capitol Piazza. No18 at Capitol Singapore, which comprises three conservation buildings, will be its first venue in Asia when it starts operations in the third quarter 2019.
About 70 per cent of No18's space will be for private offices and 30 per cent for its club and amenities. An event space within the premises will host events with a focus on health and wellness, and cater to luxury brands and product launches.
Typically, No18's facilities also incorporate health clubs, cafes, bars and restaurants, and host parties, events and functions to facilitate business and social networking.
Annie Lee, deputy chief executive officer (Singapore) of Perennial, said: "We are pleased that Capitol Singapore is the choice location for No18's maiden venue in Asia.
"No18 further strengthens Capitol Singapore's tenant mix as part of its repositioning exercise and standing as an integrated luxury lifestyle destination."
Betül Genc, country manager of IWG Singapore, said: "Our aim is to create a cosmopolitan business club and enriching experience for organisations of all sizes. Having a flexible workspace is critical for emerging businesses, including small and medium enterprises."