The Executive Centre to open Singapore Land Tower workspace in January 2024

The opening of the brand-new center happens amid growing need for office space in Singapore, TEC claims in a Nov 27 news release. The increased interest occurs from MNCs seeking to establish workplaces in Singapore, as well as raising back-to-office force coming from employers tightening up a mix of both working policies. Mentioning CBRE’s 2023 Singapore Office Occupier Sentiment Survey, TEC details that 64% of firms are focused on boosting office attendance or boosting job efficiency.

TEC’s Lim says the company’s expansion energy in Southeast Asia is expected to carry into 2024. Keeping in mind that its developments are driven by customer needs, she emphasize that TEC’s networks of centers within Southeast Asia are reinforced by clients that have a global visibility in the region.

On top of that, TEC monitors that the way renters use office has actually transformed since pre-Covid days, with firms putting higher focus on having entry to a mix of purpose-built areas including personal workplaces for focused work, flexible seating, shared conference room, and activity spaces.

Flexible workspace company The Executive Centre will open its eighth center in Singapore, situated at the Singapore Land Tower, in January 2024. The centre is located on the 45th to 47th levels of the office tower at 50 Raffles Place, close to Raffles Place MRT Stop. Covering 50,720 sq ft, it will have 490 offices and include reserved offices and a user lounge.

The opening of the TEC hub at Singapore Land Tower is a feedback to this growing necessity, says Yvonne Lim, TEC’s handling supervisor for Southeast Asia. She includes that the brand-new hub is seeing “strong interest”, according to the solid occupancy rate at TEC’s other facilities in the city. As of September, TEC’s average tenancy rate in Singapore ranked at 95%.

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The new centre adheres to a series of 4 launchings TEC has actually performed 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 included nearly 1,200 workstations throughout these key Southeast Asian markets in 2023, presenting a 33% rise in office growth.

As of September, TEC’s common tenancy rates stood at 98% in Manila, 91% in Ho Chi Minh City and 81% in Jakarta.

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