JustCo Signs New Metropolis Asset-Light Deal as “Space-as-a-Service” Grows in Popularity Among Landlords and Enterprises

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.