The Business Times
business-time-50
SUBSCRIBERS

Limited office space, need for flexibility could support demand for co-working market

google-preferred-sourceAdd BT as a preferred source
Nisha Ramchandani

Nisha Ramchandani

Published Mon, Oct 17, 2022 · 05:50 AM
    • Cushman & Wakefield data shows that CBD Grade A office rents rose 1.8 per cent quarter-on-quarter to S$10.35 per square foot per month in Q3 2022 while vacancy rates tightened to 3.6 per cent from 5.1 per cent in the last quarter.  
    • Cushman & Wakefield data shows that CBD Grade A office rents rose 1.8 per cent quarter-on-quarter to S$10.35 per square foot per month in Q3 2022 while vacancy rates tightened to 3.6 per cent from 5.1 per cent in the last quarter.   BT FILE PIC

    DeeperDive is a beta AI feature. Refer to full articles for the facts.

    CO-WORKING demand in Singapore could remain firm as some firms opt to rein in capital expenditure, amid tight vacancies in the office market, rising rents and economic headwinds.

    Occupancy has recovered from the troughs seen during the pandemic, when safe distancing measures kept employees home-bound, said several co-working operators.

    “Post-pandemic, we have noticed a greater receptivity for co-working and flex space,” said Ho Seng Chee, the chief corporate officer of JustCo. “There is increased demand for co-working across all our markets in Asia-Pacific.” Ho also noted that more multinational corporations (MNCs) are using flexible workspaces as their primary office.

    Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.

    Co-workingWeWorkJustCoIWGColliersSavillsOffices

    Copyright SPH Media. All rights reserved.

    Reuse this contentFeedback

    TRENDING NOW

    In this economy, the smartest bets might no longer be sitting an ocean away, but are waiting right here at home.

    ‘Boring’ is the new black: The stars are aligning for a Singapore stock market revival

    Sales have rebounded in March after the year-end lull and seasonal Chinese New Year pullback.

    Near sell-out launches in March boost developer sales to 1,300 units after four slow months

    US President Donald Trump (left) with Chinese President Xi Jinping at a bilateral meeting on the sidelines of the Apec summit in Busan last October.

    China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result

    Lim's pay package includes about S$3.6 million as salary and around S$3.9 million as bonus, indicates the company's annual report.

    Genting Singapore’s Lim Kok Thay receives S$7.5 million pay package for FY2025

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More