It inked a 50-50 JV with Collective Works.
CapitaLand has teamed up with Collective Works to turn the 12th floor of the prestigious Capital Tower into a high-end co-working space.
The 50-50 joint venture will support up to 250 high performance businesses over 22,000 sq ft, has seen strong pre-registration, the companies said in a release.
“Across Asia we have witnessed an exponential surge in demand from entrepreneurs seeking more personal business solutions. Our joint venture with property heavyweight CapitaLand signifies a new wave of corporate dynamism in the coworking sector,” said Jonathan O’Byrne founder of Collective Works.
“We are confident that the coworking space at this premium building will appeal to a range of fast-growing businesses, entrepreneurs and freelancers seeking to rent fully functional, fitted-out office spaces under flexible lease terms,” noted Wen Khai Meng, CEO of CapitaLand Singapore.
Wen added that demand is expected to come from sectors such as fin-tech, social media, technology, insurance, corporate training and venture capital investment
Collective Works became the first coworking space to launch in the CBD in December 2012.
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