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Office Market Office Space Redefined
Desmond Sim Head of Research, South East Asia & Singapore
Dylan Chua Assistant Manager, Singapore Research
April 2017 CBRE Research © CBRE Ltd. 2017 | 1 VIEWPOINT SINGAPORE OFFICE
Understanding Activity-based working
Chart 1: Total office stock per employed resident*
200
150
100
50
0
2003 2004 2002 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 Office Space (sq. ft)/Pax
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Co-working spaces – private sector’s answer to activity-based working
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Figure 1: At a Glance – Singapore’s Co-working Market in 2016
≥50 ≥400,000
≥60 1,000 – 33,000 (Avg size: 6,800)
Table 1: New co-working facilities in 2017-2018 Year of Operation Operator (s) Location Size (sf)* 2017 The Working Capitol 140 Robinson Road 55,000 2017 JustCo UIC Building 38,000 2017 JustCo Marina One 36,000 2017 Unilever Foundry and Padang & Co Mapletree Business City 22,000 2017 The Work Project OUE Downtown Gallery 20,000 2017 Keppel Land Keppel Bay Tower 18,000 2017 Spacemob and Ascendas-Singbridge Ascent 14,000 2018 Distrii Republic Plaza 60,000
April 2017 CBRE Research © CBRE Ltd. 2017 | 4 VIEWPOINT SINGAPORE OFFICE
Benefits and Opportunities for Landlords
The future of Co-working
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SINGAPORE RESEARCH
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