SINGAPORE-BASED JustCo is expanding to Korea and Australia, with the opening of six co-working spaces in Melbourne, Sydney and Seoul. The firm's four co-working spaces in Sydney and Melbourne will mark its first venture beyond Asia. This includes a four-storey 90,000 sq ft centre at 15 William Street, Melbourne, slated to open in May 2019. JustCo's first of two spaces in Korea will be opened at the Seoul Finance Centre, owned and managed by Singapore's sovereign wealth fund GIC. Last year, Frasers Property, GIC and JustCo said they are jointly investing US$177 million to develop a co-working space platform across Asia. Founder and CEO Kong Wan Sing said: "2019 is starting strong for us as we enter new cities in Korea and Australia and announce more locations in Hong Kong, Taiwan, Vietnam, Malaysia and the Philippines. "Co-working has immense potential. With our expertise, we are looking to grow the industry by helping more companies realise the synergies, efficiencies and opportunities of a shared workspace." Mr Kong added that across all of JustCo's newly secured locations in the region, it has received 50 per cent pre-lease commitment by large corporates. Over the last year, the company's member base has grown 42 per cent. JustCo said in a press statement that it expects to grow its headcount by 60 per cent for departments including IT and infrastructure, workspace design, and sales and community.
JustCo has announced plans to open two offices in South Korea and four in Australia. The Australian offices, its first outside Asia, will be in Sydney and Melbourne and will include a 90,000 sq ft site at 15 William Street, Melbourne, scheduled to open in May. The first centre in South Korea will be in the Seoul Finance Centre, which is owned and managed by Singapore’s sovereign wealth fund, GIC. Last spring, JustCo partnered with Frasers Property and GIC, jointly investing $177m to extend its co-workspace platform across Asia. Kong Wan Sing, founder and CEO of the Singaporean company, said all its new locations have enjoyed 50% pre-lease commitments from large corporates.