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Singapore’s largest coworking space provider, JustCo, closed a Series B round at US$200 million valuation from Thailand’s leading real estate developer, Sansiri.
All eyes are on the coworking industry this week as Singapore’s premium coworking space provider JustCo grew its valuation to US$200 million after closing on an undisclosed amount of investment in the latest round of fundraising from one of Thailand’s largest property developers, Sansiri. With the latest valuation, JustCo now tops the co-working space industry in Asia.
The funds received will fuel JustCo’s upcoming rapid expansion into other Southeast Asia cities like Bangkok, Jakarta, Kuala Lumpur, Ho Chi Minh City and Manila. JustCo aims to open more coworking centres in at least six regional countries, bringing the total number of locations in Asia to 30 by 2018, covering a total floor space of more than 1 million square feet. With this, JustCo foresees its current members base to grow by five-fold from the current 12,000-strong community.
Kong Wan Sing, founder and CEO of JustCo said, ‘We spent the last 5 years building up a platform with the vision of becoming the dominant player of coworking space in Southeast Asia. Each market in this region presents its own unique challenges but our groundwork for exponential rollout has been laid and we have cultivated strategic partners in the various countries. Our inroad for Bangkok is laid when we partner with Sansiri, one of the largest property players and the only fully-integrated developer in Thailand.’
CEO of Sansiri, Apichart Chutrakul elaborates, ‘We see much potential for the coworking trend to take hold in Thailand and the rest of Southeast Asia and we see JustCo as the right partner to capitalise on this trend. Given JustCo’s track record and its acute business strategy, we are optimistic this partnership will bear fruits and we are positive and excited in joining hands with JustCo.’
About JustCo
Founded in 2015, JustCo is Singapore’s largest premium coworking space provider, with all of its centres strategically located in the heart of the Central Business District (CBD), making it the only provider with the highest concentration of centres in the CBD.
JustCo believes that working better is working together. It redefines the future of collaborative spaces by introducing vibrant communities committed to achieving mutual success. By fostering an open, conducive and creative environment, JustCo encourages interactions, collaborations, and creates opportunities all in a bid to boost innovation and productivity.
True to the brand’s promise, JustCo creates a powerful ecosystem where businesses of all sizes can harness the benefits of the network effect at JustCo. JustCo is set to affirm its leadership to become the largest premium coworking network in Singapore and Asia Pacific with more spaces launching in the near future.
About Sansiri
Listed on the Stock Exchange of Thailand since 1996, with over 33 years of experience and hundreds of projects across Thailand, including two hotels and a residential project in Kensington, London, Sansiri is widely regarded as Thailand’s leading developer of quality houses, townhouses and condominiums. Sansiri is also Thailand’s only fully integrated property developer, providing comprehensive services that go far beyond those of traditional developers. Its Plus Property Agency, Quintessentially Concierge and Rental for the Holidays Lettings allow it to fully attend to the needs of its customers from start to finish.
For more information please visit: www.sansiri.com
