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

Open work space company The Executive Centre is going to open its 8th facility in Singapore, located at the Singapore Land Tower, in January 2024. The center rises on the 45th to 47th floors of the workplace tower at 50 Raffles Place, near to Raffles Place MRT Terminal. Covering 50,720 sq ft, it will most likely have 490 workstations and include exclusive offices and a user lounge.

The opening of the TEC center at Singapore Land Tower is a response to this growing necessity, states Yvonne Lim, TEC’s coordinating director for Southeast Asia. She includes that the brand-new hub is observing “strong demand”, according to the strong occupancy rate at TEC’s different facilities in the city. Since September, TEC’s standard tenancy rate in Singapore stood at 95%.

The beginning of the new facility comes amidst expanding demand for office in Singapore, TEC says in a Nov 27 press release. The greater interest emerges from MNCs looking to arrange offices in Singapore, in addition to raising back-to-office momentum stemming from companies tightening up a mix of both working regulations. Citing CBRE’s 2023 Singapore Office Occupier Sentiment Survey, TEC notes that 64% of companies are concentrated on raising office attendance or improving job performance.

Lumina Grand floor plan

On top of that, TEC observes that the way renters use office has actually altered since pre-Covid days, with firms placing higher focus on having entry to a mix of purpose-built spaces including exclusive offices for focused work, manageable seating, shared meeting rooms, and activity rooms.

The new centre follows a collection of four openings TEC has actually accomplished throughout Southeast Asia this year: one in Singapore’s Capital Square along with one each in Jakarta, Ho Chi Minh City and Manila. Together, TEC has included just about 1,200 workstations throughout these key Southeast Asian markets in 2023, representing a 33% rise in workstation growth.

TEC’s Lim claims the firm’s growth energy in Southeast Asia is assumed to carry into 2024. Noting that its growths are driven by customer demands, she highlights that TEC’s networks of facilities within Southeast Asia are reinforced by clients that have a global presence in the region.

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


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