The Executive Centre to open Singapore Land Tower workspace in January 2024
The launching of the new facility happens in the middle of growing need for office in Singapore, TEC claims in a Nov 27 news release. The higher interest arises from MNCs seeking to establish workplaces in Singapore, along with raising back-to-office momentum stemming from companies tightening hybrid working regulations. Mentioning CBRE’s 2023 Singapore Office Occupier Sentiment Survey, TEC notes that 64% of companies are concentrated on boosting office presence or improving work effectiveness.
On top of that, TEC monitors that the way tenants use office spaces has actually altered ever since pre-Covid days, with companies positioning better emphasis on having entry to a combination of purpose-built places involving private offices for focused work, adjustable seating, shared conference room, and event rooms.
TEC’s Lim says the business’s expansion momentum in Southeast Asia is expected to carry in to 2024. Noting that its developments are steered by customer demands, she emphasize that TEC’s networks of centres inside Southeast Asia are bolstered by clients that have an international existence in the area.
The new centre adheres to a collection of four launchings TEC has accomplished across Southeast Asia this year: one in Singapore’s Capital Square together with one each in Jakarta, Ho Chi Minh City and Manila. Together, TEC has certainly added just about 1,200 workstations throughout these major Southeast Asian markets in 2023, presenting a 33% boost in office growth.
Flexible workspace company The Executive Centre will launch its 8th centre in Singapore, situated at the Singapore Land Tower, in January 2024. The centre lies on the 45th to 47th grounds of the workplace tower at 50 Raffles Place, close to Raffles Place MRT Station. Extending 50,720 sq ft, it will have 490 offices and consist of reserved offices and a user lounge.
As of September, TEC’s common occupancy rates stood at 98% in Manila, 91% in Ho Chi Minh City and 81% in Jakarta.
The opening of the TEC centre at Singapore Land Tower is a solution to this expanding necessity, states Yvonne Lim, TEC’s handling supervisor for Southeast Asia. She includes that the brand-new hub is observing “strong interest”, according to the good occupancy rate at TEC’s other centres in the city. As of September, TEC’s standard occupancy rate in Singapore stood at 95%.
