JustCo to open Manulife Centre co-working space later this year

Co-working space provider JustCo will open an outlet at Manulife Centre later this year, it said yesterday.

The facility will occupy around 50,000 sq ft over two levels of the building in Bras Basah's Art and Heritage District.

It is expected to house about 1,000 members and bring JustCo's portfolio to 33 centres across eight regional cities - Singapore, Bangkok, Shanghai, Jakarta, Seoul, Sydney, Melbourne and Taipei.

JustCo's space at China Square Central, which was announced last year, will open in the fourth quarter this year. The firm has nine spaces in Asia slated for opening in the second half of this year, including three in Taipei and the two here.

Frasers Property, GIC and JustCo announced last year that they were jointly investing US$177 million (S$241 million) to develop a co-working space platform across Asia.

JustCo's last recorded fund-raising round was a Series B one in 2017 led by Thai property developer Sansiri, which valued the company at about US$200 million.

EXPANSION

By the end of 2019, we expect to have more than 50 centre locations spanning across more than two million sq ft.

JUSTCO FOUNDER AND CHIEF EXECUTIVE KONG WAN SING

"By the end of 2019, we expect to have more than 50 centre locations spanning across more than two million sq ft. This is more than doubling the network of locations from a year ago," said founder and chief executive Kong Wan Sing.

"While Singapore remains the strongest market for JustCo, our continued expansion in Asia and use of work space technology will allow our members to harness even greater value from our large regional community."

A version of this article appeared in the print edition of The Straits Times on July 11, 2019, with the headline 'JustCo to open Manulife Centre co-working space later this year'. Print Edition | Subscribe