The Executive Centre Takes Up More Office Space At The Ocean Financial Centre
SINGAPORE – Coworking space operator The Executive Centre has launched a new extension at its outlet at the Ocean Financial Centre, a 43-storey Grade A office building in Collyer Quay, in early October, reported The Edge on Friday morning (4 November, SGT).
The Executive Centre, which already leases the 37th and 40th floor there with a combined area of roughly 44,000 sq ft, has occupied an additional office floor. Situated, on the 4th floor, the 15,000 sq ft expansion adds 295 workstations to the existing 550 workstations at the coworking centre.
Paul Salnikow, the Chief Executive and Founder of the coworking space operator, revealed that the extension at the Ocean Financial Centre attained a committed occupancy of 93 percent even prior to the outlet’s opening on 6 October 2022.
This indicates healthy demand for The Executive Centre’s coworking spaces in Singapore, where its present average occupancy level has reached 95 percent. Notably, the company runs six coworking centres here with an overall area of 172,417 sq ft.
Salnikow shared that multinational corporations account for more than 80 percent of its client base, mainly from sectors like tech, insurance, and financial services.
Moreover, The Executive Centre intends to further expand in Singapore, with 2 new coworking outlets opening in the next 2 years.
By January 2023, the company plans to launch a 29,000 sq ft coworking centre at Capital Square along Church Street. It will be situated on one floor and contains 430 workstations.
Come 2024, The Executive Centre will open a 32,000 sq ft coworking outlet at Singapore Land Tower. Located on 3 levels, it will house 490 workstations.
Salnikow said the expansion in Singapore underscores the city-state’s importance to the company. “Singapore is our number one market outside of Greater China.”
At present, the Hong Kong-based company has more than 170 coworking centres across 34 cities.