JustCo’s the boring office to open first CBD co-working space

[SINGAPORE] GIC-backed flexible workspace platform JustCo on Thursday (Jun 25) announced that it would open a new co-working centre in the Central Business District (CBD).

This will be the second location of the boring office, one of the company’s portfolio brands, and the first in the CBD. It will occupy the ninth level of The Octagon.

Besides being centrally located, the space is near four MRT stations: Telok Ayer, Downtown, Tanjong Pagar and Raffles Place.

“A significant proportion of the inventory is dedicated to one to four-person offices... seeking flexibility and affordability in a central location,” JustCo said in a statement.

It added that the boring office is designed for startups, entrepreneurs and small and medium enterprises “seeking a credible business address and flexible workspace solution, without paying for premium amenities they may not require”.

Users will have access to private offices, meeting rooms and shared amenities on flexible membership terms. They can also tap the broader JustCo network across Singapore and the Asia-Pacific through optional plans.

The workspace opening is part of JustCo’s regional expansion, following its listing on the Singapore Exchange’s mainboard on May 22.

Executive chairman and CEO Kong Wan Sing said the move “demonstrates our continued execution of the growth strategy we outlined to shareholders during our initial public offering”.

The company has more openings across the Asia-Pacific in its pipeline.

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Noting that businesses across the region are increasingly seeking flexibility and cost efficiency, Kong added that JustCo’s multi-brand platform allows it to serve “a broader range of customers while maintaining a disciplined approach to growth”.

Shares of JustCo ended 1 per cent or S$0.005 higher at S$0.525, before the news.