Singapore’s JustCo expands into Melbourne, Sydney and Seoul

A JustCo co-working centre in MacDonald House along Orchard Road.
JustCo

Singapore co-working space provider JustCo is expanding its network with six new co-working centres in the Melbourne, Sydney and Seoul markets, the firm announced in a statement on Monday (Jan 28).

JustCo added that by expanding into these markets while increasing its presence in Singapore, Shanghai, Bangkok and Jakarta, it is planning to double its regional footprint in Asia Pacific by the first quarter of 2019.

Its aim is to secure or open nine new Central Business District locations across the region by the first quarter of the year. With the nine new locations, the total number of JustCo centres in Asia Pacific would be brought up to 29. The company is currently Southeast Asia’s largest co-working space provider.

Read also: The Singaporean couple behind US$200 million JustCo say this is how they built SEA’s largest co-working space provider without breaking up

Four co-working centres will be opened in Sydney and Melbourne – the first two non-Asian cities the brand is setting foot in. One of which – set to open in Melbourne in May – is a four-storey centre that measures 90,000 sq ft.

Another centre will be located at the Seoul Finance Centre, owned and managed by Singapore sovereign wealth fund GIC.

“2019 is starting strong for us as we enter new cities in Korea and Australia and announce more locations in Hong Kong, Taiwan, Vietnam, Malaysia and the Philippines,” said Founder and CEO, Kong Wan Sing.

“Across all our newly secured locations in the region, we have received 50 per cent pre-lease commitment by large corporates. Workforce demographics are changing and millennials’ demand for collaborative and flexible workspaces continue to drive the industry,” he added.

Last year, JustCo announced plans to develop a co-working platform across Asia using a joint investment of US$177 million made with GIC and multinational property company Frasers.

Read also: GIC, Frasers Property and JustCo are jointly investing $177 million to develop a co-working platform in Asia

It also secured partnerships with Thailand-based real estate company Ticon and property developer Sansiri, as well as Gunung Sewu in Indonesia, a company that operates businesses in insurance, agriculture, real estate, consumer goods and resources.