IWG Sees Higher Demand For Decentralized Coworking Spaces In Singapore
SINGAPORE – Coworking space operator IWG revealed that it’s witnessing 34 percent higher usage for its decentralized outlets in Singapore’s city-fringe and heartland areas, reported The Edge on Friday morning (10 June, SGT).
These areas include Jurong, Novena, Joo Chiat, Tampines, One North, Paya Lebar, and Changi Business Park.
Moreover, the company’s most recently-opened 10,328 sq ft coworking centre under the Regus brand is also situated within a decentralized area, namely at Hiap Hoe Building at Zhongshan Park in Balestier. The outlet, which opened two months ago, occupies two floors and represents IWG’s eighth decentralized location in the city-state.
At present, the coworking space operator has a total of 22 outlets across Singapore under four brands: Regus, Spaces, Signature by Regus, and No18. Overall, they have a net leasable area (NLA) of 492,814 sq ft
While IWG previously had 26 coworking centres in Singapore, the company’s footprint has actually increased by 30 percent as its remaining outlets are bigger, have been expanded, or replaced with bigger facilities, said IWG’s Country Manager for Singapore Darren Rogers.
For instance, its 10,000 sq ft Regus centre at 77 Robinson Road was shuttered in 2021, but IWG opened a new, 22,000 sq ft Regus location just down the road at CapitaLand’s Plus Building at 20 Cecil Street.
Likewise, the coworking space operator previously had another 10,000 sq ft Regus centre at Paya Lebar Square, which was closed in favour of the much bigger, 52,000 sq ft Spaces location at the newer Paya Lebar Quarter next door.
Ultimately, Rogers thinks that while offices in Singapore’s central business district (CBD) will remain crucial, IWG’s decentralized coworking space will see sustained demand as firms diversify their property strategy to offer the flexibility wanted by their employees.
“It doesn’t mean giving up real estate. Rather, it’s a question of how do companies want to engage employees?” he added.
