The Executive Centre to open Singapore Land Tower workspace in January 2024
The opening of the TEC centre at Singapore Land Tower is a feedback to this increasing necessity, says Yvonne Lim, TEC’s coordinating director for Southeast Asia. She adds that the brand-new centre is seeing “robust demand”, in accordance with the good occupancy price at TEC’s different centers in the city. As of September, TEC’s standard tenancy rate in Singapore stood at 95%.
Flexible work space provider The Executive Centre is going to open its 8th center in Singapore, situated at the Singapore Land Tower, in January 2024. The centre lies on the 45th to 47th floors of the workplace high rise at 50 Raffles Place, near to Raffles Place MRT Terminal. Covering 50,720 sq ft, it will have 490 offices and consist of reserved workplaces and a user lounge.
On top of that, TEC monitors that the way lessees use office has actually changed ever since pre-Covid days, with companies positioning better emphasis on having access to a combination of purpose-built spaces featuring exclusive offices for concentrated work, adjustable seats, collaborative conference room, and activity rooms.
The opening of the brand-new centre happens in the middle of growing interest for workplace in Singapore, TEC states in a Nov 27 news release. The greater demand comes up from MNCs seeking to arrange workplaces in Singapore, along with raising back-to-office momentum coming from companies tightening hybrid working regulations. Mentioning CBRE’s 2023 Singapore Office Occupier Sentiment Survey, TEC details that 64% of firms are focused on raising office presence or improving job efficiency.
TEC’s Lim states the firm’s expansion energy in Southeast Asia is expected to carry into 2024. Noting that its growths are driven by customer requirements, she emphasize that TEC’s networks of facilities within Southeast Asia are strengthened by customers that have an international visibility in the place.
The latest centre adheres to a series of four launchings TEC has actually performed throughout 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 included just about 1,200 workstations throughout these key Southeast Asian markets in 2023, representing a 33% rise in workstation growth.
Since September, TEC’s common occupancy rates stood at 98% in Manila, 91% in Ho Chi Minh City and 81% in Jakarta.