TOKYO – Within simply six months since its debut in Tokyo, Singapore co-working space operator JustCo already has seven places which are both open or in the works throughout the sprawling metropolis.
And the corporate is poised to develop even additional, with chief government officer Kong Wan Sing telling The Straits Times that there’s loads of untapped demand.
“Looking at the market share of co-working spaces, it is only one to two per cent of the total office space in Japan. It is definitely not a saturated market,” he mentioned. “I don’t need the other 98 per cent to move to flex – even if it is just 10 per cent – the existing operators cannot cater to the demand.”
Prime Minister Lee Hsien Loong visited JustCo’s first centre in Tokyo, situated on the thirty third flooring of the favored Shibuya Hikarie mixed-use growth that additionally homes a division mall.
“Good to see our homegrown enterprises making their mark in international markets,” he wrote in a Facebook submit after the go to.
The facility, which has a capability for greater than 500 customers, already has an 80 per cent occupancy price and has amongst its purchasers Zoom and Pinterest.
JustCo’s seven centres throughout Greater Tokyo are in Shibuya, Shinjuku, the Marunouchi and Toranomon enterprise districts, in addition to neighbourhood places Kamata, Omiya and Funabashi.
Mr Kong, whose earlier expertise was in actual property, began the agency in 2011 after he noticed potential demand for higher flexibility in workplace space.
It has secured funding from sovereign fund GIC and hospitality agency Frasers, and now has almost 50 co-working areas throughout 10 cities in eight international locations and areas. Members can use any of its amenities.
The pandemic,Mr Kong mentioned, was a boon for his enterprise.
“More companies whose leases are expiring have made inquiries about moving into co-working spaces, as compared to the pre-Covid era when they might think about renewing the lease,”he mentioned.
The firm is now finding out the potential for smaller-format versatile workplaces and work cubicles in Japan, the place it’s trying to roll out its workspace-on-demand platform Switch that now has 10,000 desks throughout Singapore, Australia, Hong Kong and South Korea.
Singapore co-working space operator JustCo sees exponential growth in Japan & More Latest News Update
Singapore co-working space operator JustCo sees exponential growth in Japan & More Live News
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Singapore co-working space operator JustCo sees exponential growth in Japan & More News Today
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