Singapore’s CapitaLand joins booming Chinese co-working office segment
A recent survey by JLL showed a resounding 81pc of white-collar respondents in Shanghai now readily accept working from flexible spaces, compared with just 24pc at the end of 2013
CapitaLand, Singapore’s largest commercial developer, has joined the increasingly crowded fray in China’s booming co-working market, now being driven predominantly by rising demand from technology firms looking for flexibility in the workplace.
Chief executive Lim Ming Yan said China’s digitalisation drive has prompted his company to create new products and services every six months in line with the fast-changing business landscape.
“We need to actively interact with our customers to gain an insight into their needs,” he told reporters on Monday in Shanghai.
“A better understanding of customer needs in different markets, such as China and Singapore, enables us to offer proper products and services.”
China’s co-working market is booming because a rising number of young workers are opting for flexible working hours as well as a more relaxed working environment.
The rising number of tech start-ups, bolstered by Beijing’s ambitious goal of turning the mainland into a global innovation powerhouse, has also generated a strong demand for flexible offices.
