The Executive Centre to open Singapore Land Tower workspace in January 2024
The opening of the TEC center at Singapore Land Tower is a response to this expanding necessity, claims Yvonne Lim, TEC’s coordinating director for Southeast Asia. She adds that the new centre is seeing “robust demand”, in accordance with the strong tenancy rate at TEC’s different facilities in the city. Since September, TEC’s average occupancy price in Singapore ranked at 95%.
The new centre adheres to a set of 4 launchings TEC has performed throughout Southeast Asia this year: one in Singapore’s Capital Square together with one each in Jakarta, Ho Chi Minh City and Manila. Together, TEC has certainly added almost 1,200 workstations throughout these major Southeast Asian markets in 2023, offering a 33% rise in workstation expansion.
The beginning of the brand-new centre happens amid expanding demand for office in Singapore, TEC claims in a Nov 27 press release. The increased demand occurs from MNCs wanting to arrange offices in Singapore, in addition to increasing back-to-office momentum originating from employers tightening a mix of both working regulations. Pointing out CBRE’s 2023 Singapore Office Occupier Sentiment Survey, TEC details that 64% of companies are centered on improving office attendance or enhancing work performance.
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Since September, TEC’s standard tenancy rates stood at 98% in Manila, 91% in Ho Chi Minh City and 81% in Jakarta.
TEC’s Lim says the business’s development momentum in Southeast Asia is expected to carry in to 2024. Noting that its developments are steered by client needs, she emphasize that TEC’s networks of centres inside Southeast Asia are bolstered by clients that have a global presence in the place.
Flexible work area provider The Executive Centre is going to open its eighth centre in Singapore, located at the Singapore Land Tower, in January 2024. The center lies on the 45th to 47th levels of the office high rise at 50 Raffles Place, around Raffles Place MRT Terminal. Extending 50,720 sq ft, it will most likely have 490 offices and consist of private workplaces and a member lounge.
Furthermore, TEC observes that the way occupants use workplace has changed ever since pre-Covid days, with firms positioning better emphasis on having entry to a mix of purpose-built places featuring exclusive offices for focused work, manageable seating, joint meeting rooms, and event rooms.
