The Executive Centre to open Singapore Land Tower workspace in January 2024
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 hub at Singapore Land Tower is a response to this expanding necessity, states Yvonne Lim, TEC’s coordinating supervisor for Southeast Asia. She adds that the new centre is seeing “robust interest”, in accordance with the solid occupancy price at TEC’s other centers in the city. As of September, TEC’s common tenancy price in Singapore remained at 95%.
On top of that, TEC monitors that the way tenants use office has altered since pre-Covid days, with business putting greater focus on having entry to a combination of purpose-built spaces including exclusive offices for focused work, manageable seating, shared conference room, and activity rooms.
TEC’s Lim states the firm’s expansion momentum in Southeast Asia is anticipated to carry toward 2024. Noting that its developments are driven by client needs, she highlights that TEC’s networks of facilities throughout Southeast Asia are strengthened by clients that have a global existence in the place.
The opening of the brand-new facility happens amid expanding need for office space in Singapore, TEC states in a Nov 27 announcement. The increased need occurs from MNCs looking to establish workplaces in Singapore, in addition to increasing back-to-office momentum originating from employers tightening a mix of both working regulations. Pointing out CBRE’s 2023 Singapore Office Occupier Sentiment Survey, TEC details that 64% of business are centered on raising office presence or improving work efficiency.
Open work space provider The Executive Centre is going to launch its 8th facility in Singapore, situated at the Singapore Land Tower, in January 2024. The centre rises on the 45th to 47th grounds of the office high rise at 50 Raffles Place, close to Raffles Place MRT Stop. Spanning 50,720 sq ft, it will most likely have 490 offices and consist of private workplaces and a user lounge.
The latest centre follows a collection of 4 openings TEC has actually accomplished across Southeast Asia this year: one in Singapore’s Capital Square as well as one each in Jakarta, Ho Chi Minh City and Manila. Collectively, TEC has included just about 1,200 workstations throughout these key Southeast Asian markets in 2023, representing a 33% boost in workstation expansion.
