JustCo Strengthens Asset-Light Strategy with Asia Green Signing
JustCo, one of Asia Pacific’s fastest growing workspace experience provider, today signed a landmark agreement with T-Grande Property Holding Pte. Ltd. The agreement is in line with the company’s asset-light strategy and will see it manage the real estate space at Asia Green in Tampines, Singapore from the third quarter of 2021.
“With 30% of global office inventory projected to become flexible by 2030, corporations are looking to landlords to offer more than just an empty office space,” said KONG Wan Sing, Founder and CEO, JustCo. “The signing is in tandem with our inclination toward an asset-light management model and reflects a paradigm shift in how landlords are retailing their real estate spaces in view of customer demands for extremely versatile and flexible workspace solutions.”
Spanning across approximately 30,000 square feet, the JustCo-managed space at Asia Green is designed to optimise the sharing of spaces, assets and amenities within the building by its occupiers, who will form members of the building’s community.
Tenants at Asia Green will be part of JustCo’s community of over 100,000 members, gaining access to increased platforms to collaborate and network. Located at Tampines, JustCo at Asia Green will also serve as an ideal location for workforce decentralization plans.
“JustCo’s expertise in workspace technologies and community management is complementary to Asia Green’s roll out of its’ Core + Flex leasing strategy which provides its MNC tenant base the opportunity to quickly scale up their workspace requirements on demand. We are excited to onboard JustCo as part of the overall asset enhancement initiative at Asia Green to create a truly occupier–focused energy efficient greenmark platinum Grade A building in the Tampines Regional Centre,” says spokesperson Leslie Lim, Managing Partner of Evia Real Estate, Asset Manager of Asia Green.
Shorter business cycles and greater uncertainty in an age of much increased competition has propelled the demand for flexible workspace solutions. As large enterprises shift toward this more economical option, traditional landlords are also recognising the changing market dynamics and are seeking a management contract approach to leases to capture the benefits of what operators like JustCo can offer.
In the thick of the COVID-19 pandemic in 2020, JustCo welcomed large corporates into its community, such as Tencent-backed Riot Games, cosmetic giant L’Oreal, and Kasikorn Line backed by Kasikorn Bank.
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