JustCo signs new centres in Singapore, Japan and Thailand
Adds nearly 150,000 sq ft of co-working footprint in iconic locations such as Singapore’s International Plaza, Japan’s Shinjuku Miraina Tower and Gran Tokyo South Tower
JustCo, Asia’s leading flexible workspace provider, is seizing the growing momentum of hybrid work with signings of four new centres in Singapore, Japan and Thailand, adding a total of nearly 150,000 square feet of co-working space to its portfolio. JustCo’s new centres, with one scheduled to open as early as this September, are located in iconic buildings such as Singapore’s International Plaza, Japan’s Shinjuku Miraina Tower and Gran Tokyo South Tower, while the signing in Thailand marks its first entry into Bangkok’s iconic Silom area.
The company also recently launched JustCo Zone, a new unmanned pay-per-minute solution, from three locations in Tokyo, Japan. JustCo Zone is an ultra-convenient “spoke” solution offering pay-per-minute usage of a professional workspace located in city fringes, while complementing the offerings of larger JustCo co-working locations or “hubs” in the city centre. Users simply unlock the JustCo Zone premises with a simple registration via the Switch mobile app and pay only for the time they use the facility, without any need for a deposit or credit balance. For more intensive users, longer-term subscription plans are also available at JustCo Zone locations.
Capturing Demand for Hybrid through Management Contracts
JustCo’s new centre occupying nearly 50,000 square feet at International Plaza will be run under a management contract with the site’s landlord. This latest centre is a key addition to JustCo’s management contract portfolio, and follows closely on JustCo’s other new managed centres at Singapore’s Asia Green (Tampines) and Metropolis (One North). This trend of landlords partnering with strong co-working operators through management contracts testifies to the importance of hybrid work in the future of workspaces.
JustCo’s signing marks the first entrant of a regional co-working player in International Plaza, a building bustling with a great mix of well-maintained retail, commercial and residential activities in a highly accessible location. With its expertise in “space-as-a-service”, JustCo aims to further enhance International Plaza’s value by offering a new and premium co-working location for businesses seeking to enter the CBD at an attractive price point when it opens in early 2023.
Since the beginning of 2022, the momentum for flexible work has grown in Singapore. The average deal size of large enterprises for JustCo’s flexible space is 85 workstations in the first quarter of 2022, compared to about 73 workstations in the fourth quarter of 2021.
Building Scale in Japan, Thailand and Taiwan
In Japan’s capital Tokyo, JustCo continues to pursue its strategy of growing through prominent Grade A buildings in internationally-known city nodes with good transport connectivity. The recently signed space in Shinjuku Miraina Tower sits on top of the world’s busiest train station, with an estimated 3.6 million commuters passing through it daily. Scheduled to open this November, it is also connected directly to the largest bus terminal in Japan. The other new location at Gran Tokyo South Tower, to be opened in early 2023, is situated at Tokyo Station with direct bullet train access, linking individuals and companies based in cities outside of Tokyo to the capital city centre.
JustCo’s first co-working centre in Japan opened this past January at Shibuya Hikarie, a Grade A building in Shibuya, Tokyo. JustCo Hikarie has already garnered 85% occupancy with members from large global brands and startups. Together with .BASE by JustCo, another prime workspace managed by the company, JustCo is making a strong entry in the market with seven customized offerings providing a hub and spoke solution for enterprises.
In Thailand, JustCo’s co-working centre in Bangkok’s Silom Edge will occupy four full floors in the mixed-development building. Silom Edge also houses attractive retail amenities along the famous Silom road with direct connectivity to the city centre’s metro and BTS stations. Scheduled to open this September, the centre has a capacity to house 900 members, including having larger boardrooms and seminar rooms that are available as co-working spaces for the remaining building tenants. This centre will be run under a hybrid lease-management contract model, reflecting the landlord’s confidence in JustCo’s operational capabilities to manage the co-working space.
Over in Taiwan, JustCo also welcomed its first set of members at Hsinchu when it opened in February, the company’s first workspace outside of Taipei and its fourth in Taiwan. Located in the new Grade A Zhubei Building within the commercial area of Hsinchu’s high speed rail station, it is the choice location for leading tech companies there.
Permanent hybrid work
With more businesses seeking hybrid work as a permanent solution, JustCo continues to look for quality locations and buildings to enable “work-from-anywhere” for the workforce.
KONG Wan Sing, Founder and CEO of JustCo, said: “Hybrid work is here to stay and we are bullish about flexible work in Asia Pacific. We are optimistic about 2022. As Asia recovers from Covid, we aim to ride the hybrid work wave in Tokyo with new centres at amazing locations and smaller-format JustCo Zones to extend our footprint in that city. In Singapore, we are seeing strong business recovery with 75% occupancy across the market, and our centres in Bangkok, Taipei and Seoul are nearing full occupancy. We will continue to seize the right market opportunities to be the partner of a future-ready workforce.”
JustCo is Asia Pacific’s leading provider of flexible workspace for businesses of all sizes seeking flexible solutions to nimbly scale their operations. JustCo’s value proposition lies in its focus on high-quality fitouts, attractive locations and a seamless experience via technology to work from any of its spaces. Founded in 2011 and headquartered in Singapore, JustCo has over 40 co-working spaces across 9 major cities in Asia Pacific.
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