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JustCo eyes more expansion, exits China and Indonesia

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Claudia Chong

Claudia Chong

Published Fri, Feb 10, 2023 · 04:03 PM
    • JustCo CEO Kong Wan Sing says occupancy and selling rates have improved, though recovery has been uneven.
    • JustCo CEO Kong Wan Sing says occupancy and selling rates have improved, though recovery has been uneven. PHOTO: BT FILE

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    CO-WORKING operator JustCo is planning to launch more centres in Asia-Pacific, after it hit a profitability milestone last August following a recovery in its markets.

    JustCo, a GIC-backed company last valued at over US$1 billion, manages around two million square feet of space across nine cities.

    It tracks its profitability using an Ebitda (earnings before interest, taxes, depreciation and amortisation) metric that accounts for lease payments to landlords – one of JustCo’s largest expenses.

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