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Singapore-based coworking firm JustCo has opened its first of six new locations in Australia. The 4,200 square meter space in Sydney is part of the company’s expansion from 40 locations to 100 in the next year, after receiving a $177 million investment from sovereign wealth fund GIC and Frasers.
“We are the only Asian operator – aside from WeWork – who has multiple presence in multiple cities in Asia,” said founder Wan Sing Kong.
Kong said that, while JustCo and WeWork share some similarities, a stark difference between the two is that JustCo claims to be profitable.
Its next Australian location will take up four floors, about 8,300 square meters, of Melbourne’s 15 William Street tower and is expected to open in late June.
The company’s largest location thus far is in Singapore’s Marina Square shopping mall center, and Kong said that they are in talks with other retailers in Australia to open a similar space.
