Evolving market dynamics fuelling push towards increased flexibility in commercial real estate consumption

SINGAPORE - Media OutReach - 3 June 2021 - JustCo, Asia's leading 'Space-as-a-Service' provider, signed an agreement with Ho Bee Land Limited to manage about 35,000 square feet of The Metropolis office space in Buona Vista, Singapore. This space is scheduled to open in the first quarter of 2022. The announcement comes amid heightened demand for flexible work options from businesses, employees wanting to 'work from anywhere', and landlords seeking mutually beneficial partnerships with space operators.

"Businesses today are looking for flexible rental options that are versatile and highly responsive to changing market dynamics," said KONG Wan Sing, Founder and CEO, JustCo. "The combination of businesses seeking to deploy less capital into real estate, and employees expecting more choices over how and where they work, will fuel expectations towards flexible office space and Space-on-Demand, to complement their primary real estate needs over the next decade."

The JustCo-managed space will occupy two floors in The Metropolis Tower One. It will be designed to optimise the sharing of spaces, assets and amenities to provide flexible space solutions once tenants within the Premium Grade-A development become part of the JustCo network.

Prospective tenants at the managed space in The Metropolis will join JustCo's community of over 100,000 members, gaining access to tech-enabled platforms which allow for increased collaboration and networking.  Located next to Buona Vista MRT Station, JustCo at The Metropolis is the company's second centre in the one-north precinct and serves as an ideal location for workforce decentralization plans.  

"Today's announcement to partner JustCo bears testament to our continued commitment towards offering flexible office and rental solutions that will help our tenants better adapt to the new 'norm' of having a hybrid workforce and a challenging operating environment," said Chong Hock Chang, Group Director, Projects & Marketing, Ho Bee Land Limited.

In the thick of the COVID-19 pandemic in 2020, JustCo welcomed large corporations into its community, such as Tencent-backed Riot Games, cosmetic giant L'Oreal, and Kasikorn Line backed by Kasikorn Bank.