Smartworks Acquires Singapore's Workstudio Spaces, Expands Asia Presence
Smartworks Coworking Spaces Limited completed the acquisition of Singapore-based Workstudio Spaces Pte. Ltd. This expands Smartworks' Singapore footprint to 76,000 sq. ft. with over 1,500 seats and adds more than 45 clients.
The acquisition is significant for Smartworks' international expansion, particularly in the key Singapore market, which is expected to enhance its overall market position and revenue potential.
The acquisition is positive as it strengthens the company's market presence, expands its portfolio, and adds new clients in a strategic location.
Smartworks Coworking Spaces Limited has announced the successful acquisition of Workstudio Spaces Pte. Ltd., a Singapore-based coworking and flexible workspace provider. This acquisition was completed through Smartworks' wholly owned subsidiary, Smartworks Space Pte. Ltd.
The move significantly bolsters Smartworks' presence in Singapore's enterprise workspace market and expands its managed office portfolio in the key Asian business hub. Following this acquisition, Smartworks' Singapore portfolio now comprises four operational centers, increasing its footprint to approximately 76,000 square feet with a seating capacity exceeding 1,500. The deal also integrates over 45 clients from various industry sectors into Smartworks' Singaporean client base.
Neetish Sarda, Founder and Managing Director of Smartworks, stated that the acquisition is a crucial step in their Singaporean expansion, noting that the company has more than doubled its footprint in the city-state within two years. He highlighted that Workstudio's offerings align well with their existing portfolio, enhancing their services for enterprise clients.
Soroush Ostovari, Sales Director for Singapore, expressed enthusiasm about the integration, emphasizing the growing enterprise demand for flexible workspaces in Singapore. He believes that Smartworks' operational expertise and scale will enable them to meet this demand more effectively. The acquisition also strategically enhances the accessibility and appeal of Smartworks' Singaporean centers, particularly with the upcoming Prince Edward MRT station, diversifying their client base across key business districts.
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Smartworks Coworking Spaces Limited filed this with the NSE as a statutory disclosure, categorised under acquisition. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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See the model portfoliosA plain-language summary of a public exchange filing by Smartworks Coworking Spaces Limited. Read the original for the full detail.