The Executive Centre to open Singapore Land Tower workspace in January 2024
As of September, TEC’s average occupancy rates stood at 98% in Manila, 91% in Ho Chi Minh City and 81% in Jakarta.
Furthermore, TEC monitors that the way occupants use workplace has transformed ever since pre-Covid days, with firms positioning greater emphasis on having access to a combination of purpose-built areas involving personal workplaces for concentrated work, manageable seats, shared conference room, and activity rooms.
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The opening of the TEC center at Singapore Land Tower is a feedback to this increasing necessity, states Yvonne Lim, TEC’s coordinating director for Southeast Asia. She includes that the new centre is seeing “strong demand”, according to the good tenancy rate at TEC’s different facilities in the city. As of September, TEC’s standard tenancy rate in Singapore ranked at 95%.
TEC’s Lim states the firm’s growth momentum in Southeast Asia is anticipated to carry in to 2024. Noting that its expansions are steered by client demands, she accentuate that TEC’s networks of facilities within Southeast Asia are strengthened by clients that have a global visibility in the region.
Open work space company The Executive Centre will launch its eighth center in Singapore, found at the Singapore Land Tower, in January 2024. The center lies on the 45th to 47th floors of the office high rise at 50 Raffles Place, around Raffles Place MRT Terminal. Extending 50,720 sq ft, it is going to have 490 workstations and include private offices and a member lounge.
The new centre complies with a series of four openings TEC has actually executed throughout Southeast Asia this year: one in Singapore’s Capital Square as well as one each in Jakarta, Ho Chi Minh City and Manila. All together, TEC has added almost 1,200 workstations across these key Southeast Asian markets in 2023, offering a 33% rise in workstation expansion.
The launching of the brand-new centre happens amidst expanding need for office in Singapore, TEC states in a Nov 27 announcement. The increased need comes up from MNCs aiming to establish offices in Singapore, in addition to raising back-to-office force coming from employers tightening a mix of both working regulations. Citing CBRE’s 2023 Singapore Office Occupier Sentiment Survey, TEC details that 64% of business are centered on improving office presence or enhancing job effectiveness.
