The Executive Centre To Open 8th Singapore Coworking Space
SINGAPORE – Coworking space operator The Executive Centre (TEC) is poised to open the doors of its eighth outlet here at the Singapore Land Tower at 50 Raffles Place by next January, reported The Edge on Tuesday afternoon (28 November, SGT).
Situated on level 45 to 47, the coworking centre measures 50,720 sq ft. It will contain a members’ lounge, private offices, and 490 workstations.
The company said the opening of the new flex office space comes amidst rising demand for workspace in Singapore, as 64 percent of the companies surveyed in Singapore by CBRE said they are currently focused on boosting office attendance or enhancing work efficiency.
Moreover, TEC noted that the way occupants utilise office space has been altered since the pre-pandemic days, with firms placing greater importance on having access to a mix of purpose-built spaces, such as event spaces, areas with flexible seating, collaborative meeting rooms, and private offices where staff can focus on the task at hand.
The Executive Centre’s Managing Director for the ASEAN region Yvonne Lim remarked that the opening of the coworking space at the Singapore Land Tower is a response to the aforesaid rising demand.
In addition, TEC’s new flex space is witnessing solid demand, in line with very high occupancy rates with the coworking space operator’s other Singapore branches. As of September 2023, The Executive Centre’s average occupancy level here reached around 95 percent.
The new coworking space follows a series of four new openings of Executive Centre outlets in the ASEAN region – in Singapore’s Capital Square, as well as one each in Jakarta, Ho Chi Minh City, and Manila. As of September 2023, TEC’s average occupancy rates in the three other Southeast Asian cities stood at 81 percent, 91 percent, and 98 percent respectively.