The Executive Centre to open Singapore Land Tower workspace in January 2024

TEC’s Lim says the company’s development energy 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 centers within Southeast Asia are strengthened by clients that have an international visibility in the place.

As of September, TEC’s average occupancy rates stood at 98% in Manila, 91% in Ho Chi Minh City and 81% in Jakarta.

Flexible work area service provider The Executive Centre will open its 8th facility in Singapore, located at the Singapore Land Tower, in January 2024. The facility rises on the 45th to 47th grounds of the office high rise at 50 Raffles Place, around Raffles Place MRT Stop. Spanning 50,720 sq ft, it will have 490 offices and consist of private offices and a member lounge.

The new centre follows a series of four launchings TEC has already executed across Southeast Asia this year: one in Singapore’s Capital Square as well as one each in Jakarta, Ho Chi Minh City and Manila. Together, TEC has included just about 1,200 workstations across these primary Southeast Asian markets in 2023, offering a 33% boost in workstation expansion.

Terra Hill Yew Siang Road

The opening of the TEC centre at Singapore Land Tower is a feedback to this expanding necessity, says Yvonne Lim, TEC’s coordinating supervisor for Southeast Asia. She adds that the new centre is observing “robust need”, according to the strong tenancy price at TEC’s different facilities in the city. Since September, TEC’s standard occupancy price in Singapore ranked at 95%.

The beginning of the brand-new centre happens amid evolving interest for office in Singapore, TEC says in a Nov 27 announcement. The greater demand arises from MNCs seeking to set up workplaces in Singapore, as well as growing back-to-office momentum stemming from employers tightening up hybrid working protocols. Citing CBRE’s 2023 Singapore Office Occupier Sentiment Survey, TEC details that 64% of firms are concentrated on increasing office presence or improving job effectiveness.

Furthermore, TEC monitors that the way occupants use office has changed since pre-Covid days, with companies positioning higher emphasis on having accessibility to a mix of purpose-built places including private workplaces for concentrated work, flexible seats, shared meeting rooms, and activity areas.

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