The Executive Centre to open Singapore Land Tower workspace in January 2024
The latest centre adheres to a series of four launchings TEC has executed across Southeast Asia this year: one in Singapore’s Capital Square as well as one each in Jakarta, Ho Chi Minh City and Manila. All together, TEC has certainly added nearly 1,200 workstations throughout these major Southeast Asian markets in 2023, presenting a 33% rise in workstation growth.
TEC’s Lim states the firm’s development energy in Southeast Asia is assumed to carry into 2024. Keeping in mind that its expansions are driven by client requirements, she accentuate that TEC’s networks of centres within Southeast Asia are bolstered by clients that have an international presence in the place.
The opening of the TEC center at Singapore Land Tower is a response to this increasing need, claims Yvonne Lim, TEC’s managing director for Southeast Asia. She includes that the brand-new hub is seeing “strong interest”, according to the strong tenancy price at TEC’s other centres in the city. Since September, TEC’s standard occupancy rate in Singapore stood at 95%.
Open workspace provider The Executive Centre will launch its 8th centre in Singapore, found at the Singapore Land Tower, in January 2024. The facility rises on the 45th to 47th floors of the workplace high rise at 50 Raffles Place, around Raffles Place MRT Stop. Extending 50,720 sq ft, it will have 490 workstations and include exclusive offices and a user lounge.
The Arcady @ Boon Keng Singapore
Additionally, TEC observes that the way occupants use office has actually transformed since pre-Covid days, with business putting greater focus on having accessibility to a mix of purpose-built places involving exclusive offices for focused work, adjustable seats, shared meeting rooms, and activity rooms.
Since September, TEC’s common tenancy rates stood at 98% in Manila, 91% in Ho Chi Minh City and 81% in Jakarta.
The opening of the new facility comes amid evolving interest for office space in Singapore, TEC claims in a Nov 27 news release. The higher interest occurs from MNCs seeking to establish workplaces in Singapore, along with growing back-to-office momentum originating from companies tightening up hybrid working regulations. Mentioning CBRE’s 2023 Singapore Office Occupier Sentiment Survey, TEC notes that 64% of companies are focused on increasing office presence or boosting work effectiveness.
