CapitaLand's joint venture acquires co-working business

Singapore

A JOINT venture between CapitaLand and The Work Project, known as The Work Project Kingdom (TWPK), has acquired Collective Works' co-working business for an undisclosed amount.

Co-working operator Collective Works was founded in 2012 and presently occupies 30,000 square feet across two locations at Capital Tower and 100 Cecil Street, with over 90 per cent occupancy across both centres. In March 2016, CapitaLand and Collective Works entered into a joint venture to set up Collective Works Capital Tower.