SINGAPORE (THE BUSINESS TIMES) - Co-working space operator JustCo on Wednesday (Dec 11) said it is expanding its Asia-Pacific network to 40 centres with the addition of two new spaces - one in Singapore and another in Seoul.
The Singapore co-working space is expected to open in the second quarter of 2020 at OCBC Centre East, and will occupy four storeys of space spanning 45,000 sq ft.
Located along Chulia Street, the new centre will have a wellness terrace on the building's rooftop - which will hold fitness classes and double up as an event space for workshops, movie screenings and more, JustCo said.
The addition of the OCBC Centre East outlet brings JustCo's number of locations in Singapore to 18 co-working spaces.
In addition to the new Singapore outlet, JustCo will be opening another centre in Seoul at Concordian, a Grade A office building located in the centre of Gwanghwamun in the central business district.
This brings the number of co-working spaces in the South Korean city to five.
Slated to open in the first quarter of 2020, the new centre at Concordian will occupy 70,000 sq ft of space across four storeys.
JustCo founder and chief executive Kong Wan Sing said the expansion of the company across the Asia-Pacific is a testament to the rising demand and potential of co-working businesses in the region.
"With an average occupancy rate of 90 per cent across all JustCo centres, we will continue to focus on creating bespoke workspace solutions, a dense regional network to benefit our members, value-added services such as the 'Just Connect' function on the JustCo app, and workspace technologies," he said.
In November, JustCo announced its foray into the Japan market after securing a US$50 million investment from Japanese construction and real estate firm Daito Trust Construction Co.
Daito Trust will also invest up to 2.65 billion yen (S$33.1 million) to form a joint venture with JustCo that will build and operate flexible workspaces in Japan, JustCo said at the time.
The Singapore-based group currently operates co-working spaces in Australia, China, Indonesia, Singapore, South Korea, Taiwan and Thailand.