Smartworks Coworking Spaces Ltd has completed the acquisition of Singapore-based coworking and flexible workspace provider Workstudio Spaces Pte Ltd, strengthening its presence in the city-state’s enterprise workspace market and expanding its managed office portfolio.
The acquisition was completed through Smartworks’ wholly owned subsidiary, Smartworks Space Pte Ltd, the company said.
Singapore portfolio expands
Following the acquisition, Smartworks’ Singapore portfolio has grown to four operational centres, with its total footprint increasing to around 76,000 sq. ft. and seating capacity crossing 1,500.
The transaction also adds more than 45 clients across diverse industry sectors to the company’s Singapore portfolio, further strengthening its enterprise customer base.
Strategic market expansion
Smartworks Founder and Managing Director Neetish Sarda said Singapore continues to be a strategic market for the company.
“This acquisition marks an important step in our Singapore journey. Singapore remains a strategic market for us, in just two years, we have more than doubled our footprint here. Workstudio complements our existing portfolio well and strengthens our offering for enterprise clients in the city,” Sarda said.
Flexible workspace demand rising
Smartworks said the acquisition comes amid growing demand for flexible workspaces among enterprise customers in Singapore.
Soroush Ostovari, Sales Director, Singapore, said flexible workspace has become a mainstream choice for organisations seeking quality, speed and scalability.
He said demand across Singapore’s central business district continues to strengthen, adding that Smartworks’ operational expertise and scale would enable the business to better serve enterprise customers.
Strengthens enterprise offering
The company said Workstudio’s strategic location enhances Smartworks’ presence in Singapore and offers strong connectivity for enterprise occupiers.
It added that the upcoming Prince Edward MRT station is expected to further improve accessibility, while the acquisition diversifies Smartworks’ Singapore portfolio beyond its existing locations and broadens its addressable client base across the city’s key business districts.