Riding the wave of changing market dynamics, JustCo will manage the real estate space at Asia Green Singapore amidst heightened confidence amongst landlords towards outsourcing the management of flexible real estate spaces

SINGAPORE - Media OutReach^[1] - 6 April 2021 - JustCo^[2], one of the Asia Pacific's fastest growing workspace experience providers today, signed a landmark agreement with T-Grande Property Holding Pte. Ltd. The agreement is in line with the company's asset-light strategy and will see it manage the real estate space at Asia Green^[3] in Tampines, Singapore from the third quarter of 2021.

"With 30% of global office inventory projected to become flexible by 2030, corporations are looking to landlords to offer more than just an empty office space," said Kong Wan Sing, Founder and CEO of JustCo. "The signing is in tandem with our inclination towards an asset-light management model and reflects a paradigm shift in how landlords are retailing their real estate spaces in view of customer demands for versatile and flexible workspace solutions."

Spanning across approximately 30,000 square feet, the JustCo-managed space at Asia Green is designed to optimise the sharing of spaces, assets and amenities within the building by its occupiers, who will form members of the building's community.

Tenants at Asia Green will be part of JustCo's community of over 100,000 members, gaining access to increased opportunities to collaborate and network. Located at Tampines, JustCo at Asia Green will also serve as an ideal location for workforce decentralization plans, made possible with hot desk^[4] solutions^[5] and private office suites^[6]. 

"JustCo's expertise in workspace technologies and community management is complementary to Asia Green's rollout of its Core + Flex leasing strategy, which provides its MNC tenant base the opportunity to scale up their workspace requirements on demand. We are excited to onboard JustCo as part of the overall asset enhancement initiative at Asia Green to create a truly occupier-focused energy-efficient Green Mark Platinum Grade A building in the Tampines Regional Centre," says spokesperson Leslie Lim, Managing Partner of Evia Real Estate, Asset Manager of Asia Green.

Shorter business cycles and greater uncertainty in an age of increased competition has propelled the demand for flexible workspace solutions such as hot desking and private office solutions in Singapore. As large enterprises shift towards a more economical option, traditional landlords are tapping on the changing market dynamics to maximise their flexibility and scalability. This can be achieved through a management contract approach, tobest leverage the benefits of what operators like JustCo can offer.

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. Relying on a full range of JustCo's membership plans and services, SMEs and large corporations alike can enjoy the benefits of flexible workspaces, from a virtual office to a private office suite.

References

1. ^{^} Media OutReach (www.media-outreach.com)
2. ^{^} JustCo (www.justcoglobal.com)
3. ^{^} Asia Green (www.justcoglobal.com)
4. ^{^} hot desk (www.justcoglobal.com)
5. ^{^} solutions (www.justcoglobal.com)
6. ^{^} private office suites (www.justcoglobal.com)